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Many technological advancements in the modern era have made actual use of electrical power and the constrained operating of power systems within stability limits. Some expeditious load variations and rising power demands initiate complications in voltage stability and can put stress on performance, leading to voltage instability. Voltage Stability Indices can be used to perform voltage stability assessment. This review evaluates various VSIs based on mathematical derivations, assumptions, critical values, and methodology. VSIs determine the maximum loadability, voltage collapse proximity, stability margin, weak areas, and contingency ranking. Stability indices can also specify the optimal placing and sizing of Distributed Generators. Thus, VSIs play a vital role in power system voltage stability. This review is a comprehensive survey of various indices and analyses their accuracy in determining the instability of power systems. Voltage stability is a crucial concern in operating a reliable power system, and the systematic evaluation of voltage stability is essential in a power system. This review considered and analyzed 34 indices from 138 articles from the literature for their significant performance in various power system stability problems. Of 33 indices, were 22 derived from transmission line parameters, referred to as line indices, and 12 from bus and line parameters, referred to as bus indices.

Transmission line losses are a crucial and essential issue in stable power system operation. Numerous methodologies and techniques prevail for minimizing losses. Subsequently, Flexible Alternating Current Transmission Systems (FACTSs) efficiently reduce transmission losses, and the Unified Power Flow Controller (UPFC) is a reactive power compensation controller. The parameter strength of the proportional–integral (PI) controller was calibrated with the Marine Predator Algorithm (MPA), a recent metaheuristic algorithm. An MPA-based optimum PI controller with a UPFC evaluates the optimal location of the UPFC and PI controller parameters to accomplish the desired research objective. The power rating of the UPFC was determined depending on the voltage collapse rating and power loss and an evaluated performance analysis of the MPA–PI-controlled UPFC on a modified IEEE-30 bus transmission network in MATLAB Simulink code. The Newton–Raphson method was used to perform the load flow analysis. Hence, the proposed MPA–PI controller was examined in contrast to preferred heuristic algorithms, the Artificial Bee Colony (ABC) and Moth Flame Optimization algorithms (MFO); the results showed that the MPA–PI controller exhibited better performance with an improved voltage profile and surpasses active power losses with the optimal placement of the UPFC device under different loading conditions. The active power loss, considering a UPFC with the proposed algorithm, reduced from 0.0622 p.u to 0.0301 p.u; consequently, the voltage profile was improved in the respective buses, and the loss percentage reduction during a 100% base load was 68.39%, which was comparatively better than the ABC and MFO algorithms.