A method and system for remotely monitoring the magnitude and direction of net electrical power and current flow to or from a power generation facility over the transmission lines operably connected thereto allows for the estimation of the power output of that facility. The method includes detecting and measuring the magnetic field emanating from the monitored transmission line(s), and detecting a signal synchronized to the power system frequency, typically the electric field, emanating from the transmission lines. The method further includes evaluating, storing, and transmitting the data on the electromagnetic (EM) fields that are recorded.