Better yet, Look at it this way: If I hang ten 12V lamps in series across a 120V line, and each lamp is 120 watts, am I pulling a total of 100 amps? I am not! I am drawing ten amps! Each lamp gets 12V at 10A. 100A doesn't ever flow, anywhere in the circuit. But I'm still consuming
1200W: 120V at 10A, _NOT_ 12V at 100A. If the lamps were in parallel, they would require 100A at 12V. But they're not. That's a load calculation only.An Edison circuit is just a 240 volt circuit with a grounded center-tap. In theory, if loads are balanced, the neutral drops out of the circuit, as the individial loads become a series-parallel voltage divider network. Each load receives 120V at its rated =power=.