The paper is devoted to the development of the structure of a fast and flexible data collecting system based on the proposed approach to measure power quality indicators in three-phase medium-voltage distribution grids with an example of a Mikhailovsky mining and processing plant. The approach utilizes the properties of a space vector, obtained from grid currents and voltages with disturbed waveform, to allow faster extraction of the harmonic components compared to traditional approaches, based on the direct Fourier-transform applied to a line or phase values. During the study, the concept of a universal measurement device was introduced, which allows fast estimation of the following values at the grid node: magnitudes and phases of voltage and current harmonic components, active and reactive power of harmonics and fundamental components, positive and negative instantaneous powers. The structure of interconnected measurement and control units for the considered grid node with simultaneous operation of two active variable frequency drives with active rectifiers was proposed in accordance with a concept of the Internet of things. The benefits of the proposed solution are shown by the example of the model of the grid node with two operating draglines and nonlinear load, which was developed in MATLAB/Simulink software. The proposed approach was utilized to produce distributed references for control systems of grid inverters to compensate nonlinear currents, which allowed to significantly improve THDi of the grid node input power.