The 5.8 kW is going to be your demand for the month. This is only relevant if your bill actually has you paying a demand charge. My electric meter and my electric bill displays my demand, but I don’t actually pay for it. This lets them use a single meter if you pay that or even if you don’t.
Your demand is your PEAK 15-minute average kW draw over the course of the month. It will stay there (possibly increasing if your demand goes up) until they read your meter at the end of the current billing cycle. Big draw items in the house include EV charger, A/C units, electric furnace, stove, clothes dryer and to a much lesser extent, dishwasher. Other less common items include a swimming pool and a hot tub (time machine).
If your bill has a demand charge, you want to limit the simultaneous use of those large power draws, at least during the time that they measure your demand. For example, with Evergy (local electric utility), for the residential accounts that do have a demand charge, only the afternoon non-holiday weekdays counts.
Look at the dollar values on one of your bills to see if the demand matters. Most of the time, residential bills don’t have this. One of my friends that lives a half-mile away is on a rural electric provider and has a demand charge, so he hasn’t installed 240V EV charging in an attempt to keep his demand and bill low.
Edit: just read through the thread again and saw that you said it’s for a 24 hour window. The rest still stands though. When I had solar installed, my old mechanical meter was replaced with something like what you have that tracks bi-directionally. There’s a chance that they just flip a switch inside your current meter to make it read and display both directions.