The integration of renewable energy sources (RES) based distributed generation (DG) systems into electric grid has many challenges such as synchronization, control, power management (PM) and power quality problems. This paper proposes a references current generator (RCG) based PM strategy to control three phase inverter and manage power flow among the DG energy sources, electric grid and load demand under balanced and unbalanced grid conditions. The amplitudes of active and reactive power oscillations are also eliminated and controlled through only one flexible control parameter (FCP) under grid faults and harmonic distortions. Compared with previous similar studies, one of the important contributions is capable to inject maximum active power and minimum reactive power into electric grid and load at inverter power capacity under grid faults Another contribution is to extract the positive and negative sequence (PNS) voltage and current components with the improved fast and robust dual adaptive filters based phase locked loop (DAF-PLL). Fractional order proportional integral (FOPI) is selected as an attractive solution for AC current regulation to exhibit fast transient response and to achieve zero steady-state errors as compared with conventional current regulation controllers in synchronous or stationary frames.