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This paper aims to present the analysis and development of a complete electronic smart meter that is able to perform four-quadrant measurements, act as a three-phase shunt active power filter (APF), and control three-phase induction motors by stator flux estimation. A transmission control protocol together with Internet protocol (TCP/IP) communication protocol for the remote access of measurement data is embedded into the application to securely transmit reliable information. An artificial neural network trained with particle swarm optimization is used for stator flux estimation, and a fuzzy logic controller is adopted to regulate the power converter DC bus voltage. The present work gathers knowledge from multidisciplinary fields, and all applied techniques have not been proposed altogether before. All control functions are embedded into a field-programmable gate array (FPGA) device, using VHSIC Hardware Description Language (VHDL), to enhance efficiency taking advantage of parallelism and high speed. An FPGA-in-the-loop cosimulation technique was first applied to prove the control functions’ functionality, and, later, experimental evaluations are conducted to finally prove equipment operation and reliability.