Problem statement: Estimating the margin in the loadability of the power system is essential in the real time voltage stability assessment. Voltage stability is currently one of the most important research areas in the field of electrical power system. In power system operation unpredictable events is termed as contingency and may be caused by line outage in the system which could lead to entire system instability. Voltage stability analysis and contingency analysis are would be performed in a power system by evaluating the derived voltage stability index. Approach: Voltage Stability Index Lmn can be useful for estimating the distance from the current operating point to voltage collapse point. The index can either reveal the critical bus of a power system or the stability of each line connected between two buses in an interconnected network or evaluate the voltage stability margins of a system. Results: Flexible Alternating Current Transmission Systems (FACTS) devices have been proposed as an effective solution for controlling power flow and regulating bus voltage in electrical power systems, resulting in an increased transfer capability, low system losses and improved stability. However to what extent the performance of FACTS devices can be brought out highly depends upon the location and the parameters of these devices. Unified Power Flow Controller (UPFC) is the most promising FACTS device for power flow control. Conclusion/Recommendations: The performance of this index is presented and the effectiveness of the analyzed methods is demonstrated through simulation studies in IEEE 14 bus reliability test systems.
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