This article highlights the development of a platform for monitoring three-phase energy consumption within a university campus. The core of this platform is low-cost IoT energy sensors, which are designed to transmit real-time data to the data center’s server through different IoT communication technologies, enhancing the preexisting electrical measurement network. The newly recommended measurement structure enables the electrical consumption data collection required for analyzing patterns and proposing forecast models to optimize electricity usage. The major contribution of this work is the design and implementation of smart three-phase energy meters based on the selection of various energy sensors and wireless communication technologies, and then the set up of a global IoT architecture that offers real-time data acquisition, storage, download, and visualization, capitalizing on the campus’s diverse energy profiles for detailed characterization. The proposed platform is considered the cornerstone toward the implementation of a collaborative smart microgrid, allowing forecasting and electrical consumption optimization, enabling research into potential opportunities for energy efficiency in our campus, and enhancing the performance of existing electrical infrastructure.