The application discloses a method and apparatus for determining an operational status of one or more power grid components (35) of a power grid (30). The grid components (35) have component signatures representative of the operational status of the power grid component (35). The method includes obtaining, using a monitor (20), at least one of a current waveform or a voltage waveform at a location, analyzing the obtained one of the current waveform or the voltage waveform, establishing one or more waveform data values of the waveform, accessing a database having a plurality of component signatures, and by comparison of the waveform data values with the component signatures producing one or more results representative of the operational status.