Some models can read current with both phase and neutral passing through the clamp, a lot will not though. If they do they will say this on the tin when buying them. http://isswww.co.uk/products/megger/mmc850.aspx
Been using one to measure the power taken by desktop PC's/monitors etc when working our 'carbon reduction' program in the office. You'd be surprised how much power equipment can draw even when its switched off on the unit.
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