1. A method of predicting fault conditions in an intelligent electronic device having a trip event threshold, said method comprising: sensing an electrical signal to provide a sensed signal indicative of an electrical characteristic of the electrical signal; comparing a rate of change in said sensed signal and a near-trip event threshold to detect a near-trip event, said near-trip event threshold defining said near-trip event before a potential trip event as defined by the trip event threshold of the intelligent electronic device; and generating a near-trip event signal when said near-trip event is detected.