You have to open Excel, open the Powerpivot Window, select the home tab, click on other sources, scroll down to text file, locate the csv file on your computer and make a few choices. If you click ok, the content of the csv is loaded into excel and displayed in the powerpivot window. The table and the csv stay connected to each other, so if you have a newer version of the csv file with fresh data, you change the csv files on your computer and then refresh the powerpivot table.
In the powerpivot window you can add calculated columns, e.g. adding the values of two columns, etc. A lot of the function you'll find in excel are also available here.
On the basis of this table, you then can create a pivottable in an excel sheet. You can also create a more "simple" or flat pivot table, which is more like a list, depending on what your report should look like. You can also create measures, or calculated fields in the pivottable. Here lies the real power of powerpivot.
Once you have done this, you can then use a newer/different csv while, provided it has the same columns, refresh the tabel in the powerpivot window, then refresh the pivottabel in Excel.
This is a bit cumbersome, only in Excel 2013 this can be done via VBA, so there is not really a one-click solution.
Powerpivot is for creating reports in form of a pivottable using its own formula language and allowing you to combine data from different sources. I am not sure if this is really what you are looking for. A bit of extra information might be helpful...
Carsten
P.S.:You can connect several csv files to one excel file, creating several tables in the powerpivot window.