In this article, a price adaptive power management control for a single phase residential system with electric vehicle (EV) is being presented. It takes advantage of dynamic pricing threshold to manage the net power exchange between the grid and the system. The proposed algorithm enables fast EV charging during low electricity prices time block, while allowing the EVs to discharge during sudden price hikes when prices exceed an adaptive price threshold set for the day. At night, during high tariffs, the EV operates in vehicle to home (V2H) mode, thus achieving cost minimization and grid stress alleviation. Meanwhile, the system control is performed through a novel application of the least lncosh VSC control. The least lncosh control mitigates the performance degradation of adaptive filtering control during impulsive conditions such as abrupt load changes and large outliers such as pricing changes. Moreover, the control also improves the grid side PQ with the local loads at the demand side by eliminating dominant harmonics, providing reactive power support, and operating the grid at the unity power factor, further improving the system efficiency. The system is verified by simulation results and experimental evaluation with comparisons made with PQ capability of several adaptive filtering techniques as well as economic savings.