This paper proposes novel strategies for estimating current and voltage dynamic phasors under transient conditions. Algorithms based on: (i) Taylor-Kalman-Fourier (T <sup xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">k</sup> KF) filter; (ii) Taylor-Kalman (TK) filter; and (iii) Prony's method (PM), are compared respect to the conventional discrete Fourier transform (DFT). Recently, several papers argue about the DFT disadvantages in transient conditions mainly due to its lack of adaptability under time-varying parameters. Results are presented for actual and simulated conditions, demonstrating the high performance of the above-mentioned algorithms.