Gauge overflowing mere and dip for temperature (5)
I believe the answer is:
meter
'gauge' is the definition.
(I've seen this in another clue)
'overflowing mere and dip for temperature' is the wordplay.
I cannot really understand how this works, but
'temperature' could be 't' (abbreviation) and 't' is present in the answer.
an anagram of 'mere' is 'meer' which is present in the remaining letters.
No letters remain.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for meter that I've seen before include "Device to measure quantity used of fluid, electricity etc" , "Measuring device, say for electricity usage" , "Device for recording, say, usage (5)" , "Measuring device as for electricity consumption" , "Poe sometimes used this" .)