Lol if the ISPs had to submit their data for cost to the company per gigabyte of usage by an end user, they would be in big trouble. It would be plenty difficult for them to justify any of their caps or overage charges.
He's not suggesting they submit their cost/gb for approval. He's suggesting that they have to have their meters themselves approved to ensure that the amount being billed for is correct.
Essentially, make bandwidth meters used for billing purposes be covered under the Weights and Measures Act.