The PID will require a 240 volt supply, but it only uses this to switch the relay (SSR = Solid State Relay) that actually supplies the power to the element.
Basically your 240 volt supply goes into the enclosure and is split, one feed to the PID another feed to the kettle element.
The feed to the kettle element has one of the wires passing through the switched side of the SSR.
The PID then supplies the SSR with an activation current when the temperature is below the set point it has :)
It is really quite easy, especially if you follow BigYin's how to, do make sure you make all the connections off nice and tightly, loose connecctions with 240 volts AC going through them will get warm, this causes them to get looser, which means they get warmer the next time...
PS
Mine, as described above, only drives one element in my HLT, if you want to power two elements you'll need another plug as per BigYin's wiring diagram, so that you only draw current for one element from each socket. The wire used from a plug would probably not enjoy having 20 Amps through it for an hour or so, could get very nasty.