Shouldn't that be 0.48A (240V/500ohms)?
Definitely agree that plastic fittings should be considered as high resistance. Southcoast2015 seems to think that a plastic fitting means no continuity, but may be underestimating the effect of water in the pipe.
Pure water has very low conductance (and therefore high resistivity), tap water resistivity can vary greatly depending on how many dissolved ions are in it, so will change from region to region eg dissolved chalk on the south coast.
Paul Cook says here
http://www.plasticpipesgroup.com/media/1036/earthbonding.pdf that a meter of tap water (from Leatherhead) in 15mm plastic pipe has a resistance of 100,000 ohms. The distance between the copper pipe ends in a plastic fitting is about 1cm, so the resistance of a plastic fitting is about 1000 ohms. This would give 0.24 amps @ 240V
If the distance between the pipe ends is less, the resistance would be less.