This paper proposes a power components theory. The theory is developed using time-varying phasors and complex signals defined on a sliding window of the length equal to one fundamental frequency cycle. Two practically important separations of total power are achieved through this theory: slow and fast time-varying power components as well as fundamental frequency power components and harmonic power components. The algorithms capable to obtain these separations in real-time are presented. It is important to note that Phaser Measurement Unit (PMU) is the commercial platform suitable for use as a Power Monitoring Unit (same abbreviation-PMU). As an example the simulation of PMU applied in elimination of reactive power and distortion produced by power converter is presented as a final achievement of this paper.
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