A new, low-cost method of simultaneously measuring and communicating voltage and current on distribution networks is presented. Based on Frequency Modulation (FM) of the measured fundamental frequency (and harmonics), followed by immediate re-injection of the modulated waveform back into the network, the proposed method can be implemented using inexpensive and readily available electronics. Furthermore, the method does not require a separate communication media, but instead uses the power line itself to propagate the FM signals back to a central point. EMTP-ATP simulations on a mixed LV/MV network are performed and experimental analysis demonstrates the practicality and robustness of the new method. The low-cost of the method would suit deployment on parts of the network which are otherwise overlooked for monitoring.