For wide-area measurement systems and smart grids, phasor measurement units (PMUs) have become key elements since they provide synchronized information related to the fundamental frequency components of voltages and currents. In recent years, some works have extended the concept of PMU to harmonic analysis due to the proliferation of nonlinear loads. In this work, as a first contribution, the reference model for P-class and M-class PMUs provided by the IEEE Standard C37.118.1 is expanded with the aim of obtaining the harmonic information and electric power quantities. Additionally, as a second contribution, the approach of global harmonic parameters (GHPs) for PMUs is proposed. Specifically, GHPs are introduced in this work as unified quantities regarding the overall harmonic content of voltages and currents signals. With the help of these parameters, the estimation of power quality indices (PQIs) according to the IEEE Standard 1459 can be carried out but with an important advantage, i.e., a reduced amount of data, which reduces the requirements of management, storage, and analysis. Finally, the mathematical formulations for PQIs using the proposal are also presented. It is important to mention that they are equivalent to classical formulations that use individual harmonic information; however, they exploit the advantage of PMUs that require a reduced amount of data. Several tests with synthetic and real signals are carried out to validate the proposal. Results demonstrate the effectiveness and usefulness of the proposed approach.