Voltage stability is a security concern for modern power systems. It can be analyzed using detailed or equivalent models. In this paper a new approach is presented for voltage stability analysis using synchronized phasor measurement data. Simple equivalent models of the interconnected system and load side at a measurement point are estimated from the data, and then used for calculating PV curves and predicting the stability limit. Two different models are proposed, and compared based on the analyses performed on the event recordings from US western power system. Minimal modeling and formulation makes the method suitable for online calculations. The models are continuously updated to reflect the effects of different system components and changes
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