In a three-phase system, summing the currents L1, L2, and L3 algebraically can represent the neutral current if a neutral conductor is present. However, this sum must be taken at the same instant to be accurate. The discussion highlights the importance of considering phase shifts and vector relationships rather than just magnitudes when analyzing currents. While the total power can be calculated using the formula involving voltage and current for each phase, simply adding the current magnitudes may not provide a complete picture of the system's behavior. The complexities of phase relationships and their impact on neutral current are emphasized, indicating that monitoring individual phase currents is essential for accurate power consumption analysis.