Listen,
I think that there has been a mis-understanding in terms here.
A Demand (As in Maximum Demand) meter is supplied via CT's, it takes two readings of the Demand of 15 minutes over a 24 Hour period.
Anything else is a kWh meter, especially in a Single Phase installation.
A kWh meter only measures True Power (V x I).
Did anyone think to check the meter for a shorted turn or two on the Potential coil?. [Linked Image]