As I understand is your energy meter requires a 600/5A CT but you have put a 200/5A CT.
Hence the CT Ratio is 1/3rd and the meter will read (display) 3 times the energy consumed.
Expected mf = 600/5 = 120
Used CT is 200/5 = 40
assume there is a current of 600 A, in earlier case the current to the EM is 5A but with your CT it will be 600*5/200 = 15A
For the EM 15A current is equivalent to 1800A primary current and it will show the energy readings accordingly (though actual current is 600A).
but if the EM has already a CT inside the panel with 600/5 ratio and you have added another with 200/5 Ratio, then the EM reading will be 1/40th of actual
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If the meter has already a M.F, then the new M.F = meter M.F/3
If the meter doesn't have any M.F, then the M.F = 1/3
Hope it helps.
- MS
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"All my technical advices in this forum must be consulted with and approved by a local registered professional engineer before implementation" - Mohammed Samad (Linkedin Profile: http://www.linkedin.com/in/msamad)