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This paper proposes a novel framework for an intelligent monitoring system that supervises the performance of the future power system. The increased complexity of the power system could endanger the reliability, voltage quality, operational security or resilience of the power system. A distributed structure for such a monitoring system is described and some of the advanced signal processing techniques or tools that could be used in such a monitoring system are given. Several examples for seeking the spatial locations and finding the underlying causes of disturbances are included.