It's also worth noting that in some countries, the US for example, the "neutral" may be another phase, where higher currents are needed eg for a tumble dryer.[/color][/size][/b]
The nomenclature we use for that is different. In 240V circuits, we refer to the two conductors as Line1 and Line2 (or Live1 and Live2). (no mention of conductor colour here is intentional)
There are also 120V/240V circuits, where we have Line1, Line2 and Neutral conductors. (ie. dryer heater is 240V and tumbler motor is 120V)
If a certain colour of conductor is typically used for the neutral over here, never call it neutral based on its colour.
You can only call it neutral if you trace it back to the mains supply cabinet and you know it is actually neutral.
Conductor colours mean
absolutely nothing in north american building wiring.
The worst circuits are lighting circuits with 3-way or 4-way switches, along with very "inventive" ways of using minimal copper to get the switches and light sockets working as intended.
Most circuits use Black for Line1, Red for Line2 and White for neutral.
You can be absolutely sure that if you assume this, then that is the exact case where it will actually be different.
In the dryer circuit mentioned, Black and Red would be best practice, but it is quite possible to see Black and White, or Red and White.
Now, go have fun ... watching me that is, as I am doing house renovations. I should be working on electrical as we speak, but I do not want to find out if I have to drill through concrete to run a mains cable. Once I stop procrastinating, the wall material will no longer be a mystery. I may sacrifice a drill bit in the process in order to find out.
EDIT: Thanks to Med & Mnementh for explaining the supply from the utility