Service continuity is one of the major aspects in the definition of the quality of the electrical energy, for this reason the research in the field of faults diagnostic for distribution systems is spreading ever more. Moreover the increasing interest around modern distribution systems automation for management purposes gives faults diagnostics more tools to detect outages precisely and in short times. In this paper, the applicability of an efficient fault location and characterization methodology within a centralized monitoring system is discussed. The methodology, appropriate for any kind of fault, is based on the use of the analytical model of the network lines and uses the fundamental components rms values taken from the transient measures of line currents and voltages at the MV/LV substations. The fault location and identification algorithm, proposed by the authors and suitably restated, has been implemented on a microprocessor-based device that can be installed at each MV/LV substation. The speed and precision of the algorithm have been tested against the errors deriving from the fundamental extraction within the prescribed fault clearing times and against the inherent precision of the electronic device used for computation. The tests have been carried out using Matlab Simulink for simulating the faulted system.