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In the evolving Smart Grid, the proliferation of time-variant sources and loads threaten the stability of the grid. Sophisticated protection and control systems are required to preserve reliability. These systems rely on accurate, synchronous measurements of voltage, current and frequency made by Phasor Measurement Units (PMUs). This paper describes the recently-ratified improvements to IEC C37.118.1:2005 which, when combined with sound traceability practices, enhance the measurement performance of PMUs deployed to the Smart Grid.