The new standard C37.118.1 lays down strict performance limits for phasor measurement units (PMUs) under steady-state and dynamic conditions. Reference algorithms are also presented for the P (performance) and M (measurement) class PMUs. In this paper, the performance of these algorithms is analysed during some key signal scenarios, particularly those of off-nominal frequency, frequency ramps, and harmonic contamination. While it is found that total vector error (TVE) accuracy is relatively easy to achieve, the reference algorithm is not able to achieve a useful ROCOF (rate of change of frequency) accuracy. Instead, this paper presents alternative algorithms for P and M class PMUs which use adaptive filtering techniques in real time at up to 10 kHz sample rates, allowing consistent accuracy to be maintained across a ±33% frequency range. ROCOF errors can be reduced by factors of >40 for P class and >100 for M class devices.