I posted the details of the Frient pulse counting device in an earlier post on the thread - https://renewableheatinghub.co.uk/forums/postid/60807/

I've attached a photo of it.  There's a magnetic clamp that sits over the LED of the meter, and it then connects to the white oval box above it that houses the 2 x AA batteries that power it.  The other models I've seen of similar devices all need a mains power source, so this is a big advantage of the Frient device for a cylinder cupboard in the bathroom where there are no mains sockets nearby.

It connects to Home Assistant, but requires a Zigbee interface to get it to talk to HA.  I then have two output graphs in HA, one which monitors the total daily usage, and another which provides the usage profile.  This aligns very closely to the CN105 dongle data in profile (it's the CN105 data that's used in the emoncms data, which looks to be slightly overstating power compared to the meter readings, by circa 2.2%).  I haven't reconfigured emoncms to use the meter reading data, so as to have a consistent data source, but doing so would uplift my CoP figures very slightly.

Output data within Home Assistant shown below.  The first is just the Frient sensor graphs.  The second shows the input power profile underneath the equivalent data from the CN105 dongle, which also shows output data (the coloured input lines reflect Heating and DHW usage).

As a matter of interest, does your energy in smart metering use an optical pulse counter which counts the LED flashes on the main electricity meter? If so, could you say what you use, and given a basic idea of how it is setup to collect the data?

The Ecodan FTC7 controller is easy to navigate with its colour touch screen and one touch settings access. Smart Grid and PV integration ready with the additional built in quiet mode interface and step by step installation wizard and intelligent room temperature control as standard. It also includes energy monitoring, showing consumed and produced energy.

The description of EMP2 in your chart is intriguing, as it suggests there is a pulse meter type input measurement available for the FTC5.  However, I doubt that the FTC7 uses anything as accurate as this, as my own system has a 3rd party smart pulse meter attached to the installation and the Ecodan's input power recordings are completely independent of this and, as noted in my data analysis, can be routinely overstating the smart meter data by circa 12.5% in auto adaptive mode.

However, yes, as there is an absence of power monitoring inside i think this formula is how it is calculated

I've been trying to find a Mitsubishi source for this, without success. The closest I have got so far is this description of monitoring levels from Mitsubishi's MELCloud User Manual (page 10):

This implies that basic standard monitoring (EMP1) is less accurate than enhanced monitoring EMP2, but doesn't say by how much. It does however say that EMP1 only measures to the nearest kWh, which will introduce rounding errors. 

Why on earth not just measure current drawn and voltage, assume a power factor, job done.

Indeed.

Perhaps others more knowledgeable about MELCloud's inner workings can confirm of refute this

Flow temperature will have a influencing factor too,

However, yes, as there is an absence of power monitoring inside i think this formula is how it is calculated

Why on earth not just measure current drawn and voltage, assume a power factor, job done.  If Shelly can do this in a device that retails for gbp13 and has significant compute power, mitsubishi can do it in a device costing several £1000

Perhaps others more knowledgeable about MELCloud's inner workings can confirm of refute this

Flow temperature will have a influencing factor too,

However, yes, as there is an absence of power monitoring inside i think this formula is how it is calculated