A detailed example of a power system model with load dynamics is studi
ed by investigating qualitative changes or bifurcations in its behavio
ur as a reactive power demand at one load bus is increased. In additio
n to the saddle-node bifurcation often associated with voltage collaps
e, we find other bifurcation phenomena which include Hopf bifurcation,
cyclic fold bifurcation, period doubling bifurcation, and the emergen
ce of chaos. The presence of these dynamic bifurcations motivates a re
-examination of the role of saddle-node bifurcations in the voltage co
llapse phenomenon. In fact, simulation results suggest that voltage co
llapse may take place before the reactive power demand is increased to
the system steady-state operating limit where a saddle-node bifurcati
on is detected. We also consider the role that the algebraic constrain
ts imposed by some load models may play in the global analysis of the
attractors of the system. Implications for power system operations are
drawn.