1. An intelligent electronic device for monitoring power usage of an electrical circuit comprising: at least one sensor coupled to the electric circuit configured for measuring at least one power parameter of the electrical circuit and generating at least one analog signal indicative of the at least one power parameter; at least one digital to analog converter coupled to the at least one sensor configured for receiving the at least one analog signal and converting the at least one analog signal to at least one digital signal; a processor configured for receiving the at least one digital signal and detecting at least one event occurring in the electrical circuit; and an interface configured for providing instructions associated to the at least one detected event.