Synchronized measurements of electrical signals' phasors and frequencies are expected to be fundamental in the monitoring and management of future power systems, in particular in the so-called smart grid scenario. In fact, Phasor Measurement Units are conceived as the key elements of advanced wide area monitoring systems. For these reasons, the design of measurement algorithms able to track amplitude, phase angle and frequency dynamics has been receiving increasing attention in the last years. The Kalman filter, together with a dynamic phasor model, is seen as a promising tool in this context. In this paper, a Taylor Extended Kalman filter formulation that considers the amplitude and phase angle Taylor expansion separately is introduced. ...