How to connect when I inted to monitor power consuption only?

Hi,

I've bought a couple Shelly devices, but didn't installed them yet, as I've doubts about the connections...
Looking at the simplest one - Shelly Plus 1PM

I want to use this device to monitor the power consumption of a multi split A/C system. I only want to monitor the consumed power, as IMO it would be useless to use it to switch on/off the exterior multi split unit which controls three interior units in different rooms.
As such I know I need to connect N, L and O to my load (the A/C exterior unit). As I won't use an external switch, I guess I should do a short betwwen a second L line and SW, so that my unit is permanently powered.
Am I thinking this right?

Many thanks!

Thank you for your answers!

I've been considering "Shelly Plus 1PM" rather than "Shelly EM" for this purpose, because "Shelly Plus 1PM" is a lot cheaper than "Shelly EM" and well within required power range. No need to measure 50/120A not even close (it looks like an elephant to kill a mosquito), while the measures should be less accurate in the needed operating range.
To avoid unadvert switch off I considered removing the action button from the respective widget card. But Olsche hint about using a PIN code looks even better, thanks!

1) From your answers I understand a wire between L and SW would do the job, right?
2) Or in alternative can I skip such wire and set device to "Auto On" (inspired from hints into another thread I found meanwhile)? It would be on after power is applied, and then I'd protect a switch off via PIN setting.

Many thanks!