All FO power meters MEASURE average power. This is simply peak power DILUTED by duty cycle. If you know the duty cycle of the signal and the average power, you can calculate peak power as (Avg pwr/duty cycle). If you are measuring a signal with a clock of 50% duty cycle (1-0-1-0, etc), the meter will read half the peak power. Most high SPEED networks are sending random data, so the duty cycle can probably be assumed to be 50%. Many SYSTEMS have a test mode that transmits 50% duty cycle just for optical TESTING.

All FO power meters measure average power. This is simply peak power diluted by duty cycle. If you know the duty cycle of the signal and the average power, you can calculate peak power as (Avg pwr/duty cycle). If you are measuring a signal with a clock of 50% duty cycle (1-0-1-0, etc), the meter will read half the peak power. Most high speed networks are sending random data, so the duty cycle can probably be assumed to be 50%. Many systems have a test mode that transmits 50% duty cycle just for optical testing.