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I'm just guessing here, but I would think that's an "instantaneous" reading. I may be wrong, but if they're only displaying two numbers on the meter, then the instantaneous reading (how much current has this branch Ever drawn) would be the most logical number to display.
Peak kWh
You might do some checking on your smart meter to see what it will tell you. Mine has an alternating display with total kWh and Peak kW:
So my house maxed out @ 18.44kW (Texas, 3 A/C systems + two in the RV = Oh Sh*t!!).
Franko
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