This application report demonstrates a digital technique to compensate and calibrate the phase shift of a current (or voltage) transformer used in electric power of energy measurement. Traditional analog compensation is replaced by a digital finite impulse response (FIR) filter. A technique emulating a non-unity power factor (non-UPF) load makes the calibration fully automatic. The calibration time is greatly reduced and it is more accurate and consistent. Use of emulation removes the bulky expensive non-UPF load. The 16-bit RISC MSP430 mixed-signal processor from Texas Instruments is an effective means of handling the otherwise demanding computational requirements.