AbstractThere are many voltage‐dependent loads (VDLs) in power systems. When the unit reserve supply is low, the transmission network adjusts the voltage of grid‐connected nodes to provide additional resources. Many reactive power devices with different regulatory performance levels and timescales must be coordinated to employ flexible VDLs to the maximum extent, and consequently, a transient stability‐constrained optimal power flow (TSCOPF) problem with mixed integers and multiperiod coupling must be solved. A multitimescale scheduling ‘day‐ahead‐intraday‐real‐time’ framework is designed for the optimal economic scheduling of VDLs. In the day‐ahead stage, the optimal scheduling period of the discrete reactive power control devices is determined. In the intraday stage, a rolling optimization model based on model predictive control is established, and the specific action times of the discrete reactive power devices are determined. In the real‐time stage, the optimal regulation strategy of the continuous reactive power control device is optimized by rolling. Then, to consider the speed and accuracy of the solution at the same time, a continuous sensitivity correction method is adopted to simplify and solve the original model. Finally, with a modified IEEE‐39 system and a modified IEEE‐118 system as examples, it is verified that the multitimescale scheduling framework maximizes the exploitation of the flexible resources of VDLs to ensure voltage security and stability and improve the economy of system operation under different scenarios.