The purpose of this investigation is to review the recent research pro
gress in voltage stability and security assessment of power systems. T
his paper presents the fundamental concepts of voltage stability, give
s a short recall of the classical voltage theory and different criteri
a currently available for predicting voltage collapse problems in powe
r systems, which have been associated with multiple power flow solutio
ns, bifurcation, dynamics of tap changers, stochastic loads, singular
values, etc. The various methods for studying voltage collapse are com
pared. The application of expert system techniques to assist in the de
cision-making process of the reactive power/voltage control problem of
power systems and future research directions towards voltage stabilit
y and security assessment will also be proposed in this paper.