I wouldn't be confident about the accuracy of that. Might be OK but how do you know?
Firstly I suspect you would be better off with a split-core current transformer, so you can clip it on the cable of an existing installation, and secondly I would suggest buying something built to a standard - eg meter accuracy standard "MID".
I'm not necessarily recommending the thing below, but it's illustrative of the sort of kit built to a standard and it would be accurate.
(You would need to be able to plug it into the mains, unlike the battery powered instrument you show, but I guess that shouldn't be too big a problem)
Certification: MID Certified Type: Single-phase high-precision kWh meter. Class .1 accuracy with RS485 MODBUS RTU: baud rate, modbus ID, parity, Bi-directional, import/ export, instant volt, amp, power factor, frequency, reactive power, apparent power, industrial control, AMR compatible Housing...
owen-brothers.com