In this paper, we describe the basic formulation, voltage collapse and plan operations under such implementation and application of a computer model, conditions, PG&E has developed a computer called VCMARGIN, for determining the s teady-state model called VCMARGIN (Voltage Collapse Operating operating margin of a potver system based on voltage Margin Calculation Program). stability considerations. The determination of the operating margin is based on the evaluation of the The steady-state voltage stability margin at an operating proximity of the current operating point of a power point of a power system is determined by measuring its system to the voltage collapse point. This proximity is distance from the critical point (nose point) on the calculated by tracing the path of the current operating voltage vs. activelreactive power (V-P/Q) curve. The point a s one or more system parameters vary.critical point is traditionally estimated by running Parameters under consideration include bus and area standard power flow programs repeatedly at various loads, line impedances and real/reactive generations. load levels. As the loading in the system increases, the VCMARGIN uses a continuation technique for power power flow Jacobian becomes numerically illflow, optimal power flow and governor power flow to conditioned and the solution diverges. As a result, the perform the determination of the operating margin very exact knowledge of the critical point through efficiently. VCMARGIN is extensively used by IJG&E's conventional power flow analysis is not always possible. operations planners for developing short-term operating plans for secure an mal use of PG&E's generation The rising interest in voltage collapse has focused and transmission attention on the behavior of power systems at critical load levels. Several authors on this subject have tried to Keywords: Steady-State Voltage Stability Analysis, explain the problem in terms of the singularity Voltage Collapse, Continuation Methods. phenomenon of the power flow Jacobian, multiple load flow solutions and the static bifurcation theory [2]-[10].