(1) All electricity delivered to a new building shall be sold by the electric utility on the basis of individual meter measurement for each occupancy unit, except for:

(a) Electricity delivered to hotels, motels, hospitals, dormitories, and other similar transient lodging;

(b) Where the individual contractor or owner of a new building provides to the utility, in writing before commencement of construction or replacement, data showing that the contractor's or owner's costs of purchasing and installing facilities for separate metering, when added to the utility's costs of purchasing and installing separate meters, exceed the long run benefits.

(2) Each electric utility shall, by March 1, 1981, submit to the commission for approval the criteria by which the utility proposes to analyze utility and owner or contractor costs when a determination of whether the costs of purchasing and installing separate meters exceed the long-range benefits of separate metering is required.