The disclosure relates to a converter control unit or power system stabilizing unit for counteracting oscillations in electric power systems that is equipped and employed to provide and processes information for system-wide monitoring, protection, control and metering. It comprises means for synchronized (e.g. via GPS or another absolute/global time reference) sampling of voltages and/or currents, means for down-sampling in order to decrease the number of samples, and means for calculating phasors, i.e. time stamped amplitude and phase angle of the voltages and/or currents.