The concept of microgrid has emerged as a feasible answer to cope with the increasing number of distributed renewable energy sources which are being introduced into the electrical grid. The microgrid communication network should guarantee a complete and bidirectional connectivity among the microgrid resources, a high reliability and a feasible interoperability. This is in a contrast to the current electrical grid structure which is characterized by the lack of connectivity, being a centralized-unidirectional system. In this paper a review of the microgrids information and communication technologies (ICT) is shown. In addition, a guideline for the transition from the current communication systems to the future generation of microgrid communications is provided. This paper contains a systematic review of the most suitable communication network topologies, technologies and protocols for smart microgrids. It is concluded that a new generation of peer-to-peer communication systems is required towards a dynamic smart microgrid. Potential future research about communications of the next microgrid generation is also identified.