Edwin Pawlowski writes:

In this case, I'm talking a 480V 3 phase commercial meter.
What is the power factor charges on the bill? . Aside from the
normal dials to read the kWh used, does the power factor get
interpreted into it? The meter has a needle indicator for power factor
also and stays pretty much in the same place.

OK, then you apparently do get charged a penalty for reactive power use.

The physics of reactive power requires calculus to understand.

In simple terms, a motor or other inductive load can draw a portion of
costly current and generating capacity from the utility, beyond the power
realized by the device, even though you are not realizing that power in
your facility. A simple power meter does not measure that loss, so a
factor is measured by a more complicated meter to charge you for reactive
power (what the utility sent to you) instead of real power (what you
actually used). This is reasonable, and should encourage you to fix your
installation to properly reduce the reactive power component.