For the sake of other readers, it may be appropriate to explain the difference between displacement power factor and “true” power factor. Where there are differences in measurement, true power factor will be lower, for it combines characteristics of traditional phase displacement, but also accounts for harmonic content. Classically the two produce identical results when there is no distortion in the measured voltage and current waveforms.
An important distinction in measurement methods is that displacement pf is based on the Pythagorean relationship—with inescapably frequency-dependent reactive-power quantities. Displacement power factor is defined as the cosine of the angle between the fundamental voltage and current waveforms. True power factor is based on the ratio of real and apparent power at the point of common coupling—typically at the electric utility’s traditional metering point. As such, they inherently account for a wide assortment of voltage and current “recipes.”
To add insult to injury, some electric-rate schedules base billing power-factor calculations on ratios of peak 15/30-minute demand-interval real and appartent power, while others use monthly-totaled ratios of real energy {watthours} and apparent energy {voltamperehours}.
Historically, the IEEE Standard 100 Dictionary definition excluded all but the fundamental power quantities. This limitation is in the process of being modified/updated in 1EEE Std 1459-2000.
[Nowadays, capacitor-input rectifier stages seem to be the greatest overall contributor to harmonic quantities.]
A worthwhile reference is Chapter 10 of T Longhand, et al., Power Capacitor Handbook, Butterworths, 1984. Another is Dr Mack Grady, Harmonics and How They Relate to Power Factor, Proceedings of the EPRI Power Quality Issues & Opportunities Conference, November 1993.