Unfortunately, you can't have two junctions that are coincident.
More information about Geometric Networks here: ArcGIS Help (10.2, 10.2.1, and 10.2.2)
If I were you, one of your meters will need moving away outside of snap tolerance and a new edge (with the same attributes of the original service edge) will need to be snapped to the shifted meter at one end and the other end snapped slightly upstream of the other meter on the service line. This is how it would be wired electrically in real life; the meters are in parallel:
More unlikely it may be wired in series: Disabling the northern meter would de-energise the southern one.
In our own network we have much time ahead of ourselves cleansing out this kind of data.
Hope this helps!
You make total sense.
In actuality, that is the solution I had began to go with: making slight offshoots of the service edge and dragging the meter to the end of that. I was honestly hoping I didn't have to go and find all my coincident points and perform this type of action (we have quite a bit of it).
Seeing as you have confirmed my suspicions, I'll move on with life.