This paper deals with an integrated voltage and frequency (VF) controller for isolated asynchronous generators (IAG) driven by a constant power pico-hydro uncontrolled turbine feeding three-phase four-wire loads. The proposed VF controller is used to control the frequency and voltage of an IAG with load leveling. Such a VF controller is also known as an integrated electronic load controller (IELC) which is realized using an isolated star/polygon transformer with a voltage source converter (VSC) and a battery at its DC bus. The proposed generating system with a VFC is modeled and simulated in MATLAB along with Simulink and Simpower system (SPS) toolboxes. The simulated results are presented to demonstrate the performance of an isolated asynchronous generator feeding three-phase four-wire loads with neutral current compensation.