The paper proposes a new power line conditioner called universal power line manager. The power circuit of a general universal power line manager (UPLM) is based on the combination of UPQC, UPFC and frequency changer (matrix converter). This equipment incorporates compensation functions like voltage sag, voltage swell, reactive power compensation, current harmonic rejection, real power flow control, damping the system and also provides frequency regulation. Integrated series and parallel active filter (UPQC) is a universal solution for the most power quality problems in distribution systems and the integrated series and shunt active converter (UPFC) compensates the reactive power and power flow control in distributed system. The matrix converter is used for the frequency regulation. For these integration, the compensator proposed in this paper will be called as the Universal Power Line manager (UPLM). Simulation results are presented to confirm that the new approach has better performance over the existing power quality conditioners.