A circuit analyzing system includes a current transformer for extracting current from a phase or neutral conductor of a three phase line, a filter connected to the output of the current transformer and functioning to substantially trap current at the fundamental frequency while substantially passing currents at various harmonic frequencies thereof, and signal processing circuitry connected to the output of the filter to perform various functions with the harmonic frequency current input thereto. Among these functions, as shown in various preferred embodiments, are measurement of the harmonic signal in RMS and conveyance of the output to a display instrument for a user or utility's convenience in monitoring harmonic frequency circuits, which have become more common with the advent of electronic equipment having internal power supplies such as personal computers, work stations, printers, and the like. Other functions include a user or utility's connecting a demand circuit mechanism to the measured currents (preferably RMS/harmonic frequency currents), and/or using comparator circuitry to sense the measured harmonic frequency currents and, if they exceed a desired level set by the user or utility, to output a signal to a tripping device such as a power contactor or relay which will in turn institute load shedding.