Are we paying for air?

During a recent water cut I noticed that the meter was showing signs of water flow, as the numbers on the dials were increasing: thinking the water was back on, I turned on a tap situated by the meter but no water came out, but the speed of the meter increased.

We did not get water for at least the next two hours. 

If the meter is showing increasing readings but with no water at the tap, are we therefore being charged for air rather than water?
 
Trevor Elliston,
Ayios Athanssios, Limassol