This paper proposes an approach for computing the network’s equilibrium point related to the fault clearing time in transient stability studies. The computation of this point is not a trivial task, particularly when the algebraic network’s equations are expressed in the power balance form. A natural attempt to solve this problem is using Newton’s method. However, convergence issues are found because of the lack of a general strategy for initializing nodal voltages at the clearing time. This problem has not been widely discussed in the existing literature and, therefore, is comprehensively analyzed in this paper. Furthermore, the paper proposes the use of a network’s model based on current injections and an extended admittance matrix to overcome the problem. This model is efficiently solved via the fixed-point iteration method, which involves factorization of the extended admittance matrix into the product of a lower triangular matrix [L] and an upper triangular matrix [U]. This solution executes a just once and only forward–backward substitution during the iterative solution process. Case studies clearly demonstrate the proposal’s effectiveness in computing the equilibrium point in operating conditions where Newton’s method fails to converge.