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Looking at the result, something is only accessing the value as a 16 bit register instead of a 32 bit one.
26944 decimal = 0x6940 as a 16 bit value
551232 decimal = 0x00086940 as a 32 bit value
So either the register is being scaled incorrectly inside the meter's template or the PC is not reading the register correctly and masking off the first register.
I would suggest using some type of program like Modscan or ION Setup to confirm the register contents by reading all of the registers to see how they are being populated.
If register 40204 does indeed contain 0 while register 40205 contains 0x6940, then the problem is within the actual meter and you will need ION Setup communicating using ION protocol to the 7550 to confirm how the scaling of the kW total is being performed.