Steady-state and dynamic performance of power systems are strongly influenced by the characteristics of the supplied loads. Therefore, correct analysis of power systems requires appropriate load models. As the majority of existing load models do not allow for a full or precise representation of the real aggregated loads, it is essential to develop accurate load models in order to capture load behavior more accurately. In this thesis a new detailed EMT-type (electromagnetic transient) component-based load model is developed in the time-domain simulation tool, EMTP® (Electromagnetic Transients Program). Individual EMT-type models of components from various load categories are first developed and next aggregated to form an aggregated detailed load model. The proposed model captures the diversity in end-use devices of real aggregated loads and is also capable of accounting for nonlinearities (i.e., power electronics), single-phase loads and unbalanced conditions (e.g., asymmetrical faults). It offers higher accuracy and can provide a more realistic description of the load behaviour compared to the existing models. The developed model is used to simulate load behavior in voltage sag events in different load sectors and is validated against field data. Validation of the model in real cases is an important stage of load model development which is required to ensure the capability of the proposed model to reproduce the dynamic behavior of loads during and following disturbances.Detailed load modeling is not usually the preferred approach mainly due to excessive data requirements, modeling efforts and computational burden. However, the importance of the detailed model for capturing load behaviour in dynamic simulations is investigated and its advantage over traditional models is highlighted.To explore a different aspect of load modeling, the frequency response of the load is studied through the simulation of an existing underground distribution network. The importance of the detailed model for capturing load behaviour in harmonic simulations is investigated and errors caused by conventional models are introduced. As an extension to this part, some new guidelines regarding modeling underground distribution systems for harmonic simulations of power systems is provided. viii