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The delay and computational complexity of phasor estimates under power oscillations are minimized in this paper. Different approximations to the raised-cosine (RC) filter lead to a reduction in the delay and computational complexity of the phasor estimates without significant distortion. The minimum-phase implementation of the linear-phase RC filter reduces the delay of the phasor estimates by about half, with a shorter impulse response and without the introduction of significant phase distortion. This improvement in speed provides faster phasor estimates for real-time monitoring and control applications in power systems. On the other hand, infinite-impulse-response filters reduce the computational complexity of the estimates by a factor of ten but without significant delay reduction and with a longer transient behavior and the introduction of a higher distortion. However, this solution could be useful for implementations in which the concern about computational complexity prevails over the concern about delay and distortion.