Provided is a method and device for assessing and monitoring voltage security in a power system. More specifically, a method and device for assessing and monitoring the value of reactive power load when changes in reactive power outputs of at least some of the generators in the electrical power system cause all of the generators in the system to reach the combined operating limit of their reactive power output. In response thereto, the method and device are further adapted to initiate suitable control measures such as switching of transformer banks and/or capacitor/reactor banks, as well as shedding loads whenever necessary to mitigate an impending voltage stability problem.