Currently, electricity is treated as commodity that should be delivered from a distributor to a consumer with a certain quality. The power quality is defined by the set of measures with specific limit values. One of the basic measures is the Total Harmonic Distortion (THD), which allows to assess the level of the voltage distortion. The measurement of THD ratio should be carried out in accordance with the normative specification. It is assumed that this requirement is met by class A power quality analyzers. Currently, measures are taken to monitor power quality in a large number of measurement points with the use of smart energy meters that are part of the Advanced Metering Infrastructure (AMI). The paper presents the problem of THD ratio measurement by AMI meters if voltage fluctuations occur. In such situation, inconsistency in measurement results of AMI meters and class A power quality analyzers occurs. The problem is presented on the basis of laboratory study results in which disturbances in power grid are recreated.