A novel technique for transferring power, measurement signals, and communication signals between two electrical devices over a single wire pair is presented. A host device supplies power to a sensor device over the wire pair. The sensor device obtains A/C signals by modulating the current component of the power signal on the wire pair. The host device de-modulates the current component of the power signal on the wire pair to recover the A/C measurement signals. The sensor device generates a serial bit stream containing sensor communication signals, and modulates it with either the voltage-or current-component of the power signal present on the wire pair. The host device appropriately de-modulates the power signal to recover the serial bit stream containing the sensor communication signals.