Re: neutral having shock potential
Bryan brings up a good point: Your use of the phrase ?ungrounded (neutral)? is unconventional, and therefore confusing. If you really meant what is more commonly called an ?pen neutral,? then Bryan has your answer. If not, then perhaps you could explain your question more clearly.
But your screen name leads me to wonder if you have a Navy background, or are a marine electrician. Boats and ships have ?ungrounded systems,? meaning that there is no connection from hull to the ?neutral point? of a transformer?s WYE secondary. A 120 volt, single phase circuit will employ two wires that are called ?hot? and ?neutral,? but the neutral is not connected to the floor (deck) upon which you are standing. If you touch that neutral, you will get a shock, but not for the same reason as Bryan has described. Is this the situation you are talking about?
If so, the answer is ?capacitance.? Between any two metal objects that are not bonded together there is capacitance. The amount will depend on the size and shape of the two objects, the distance between them, and the material that separates them. The value of capacitance between the deck of a ship and the neutral wire of any single phase circuit is high enough to store enough energy so that if you touch the neutral the capacitor will discharge through your body and ruin your day.