actually accuracy error of the energy meters depend upon the accuracy class of the meters.there are accuracy class 1,0.5,.1meters.These are meters allowing accuracy limits.
However,for your meter you need to check the accuracy of ur meter manually or you can ask your utility to verify your meter.
The accuracy of the meter will depend on the size of the CT that was installed. If the CT/s is/are too big in capacity as compared to the power that is actually consumed or the power that is passing through the meter, it will never give a “close to real” measurement.