In a power system, the conventional method for computing participation
factors of generators associated with an oscillatory mode involves using
linearized system models and element-by-element products of
corresponding right and left eigenvectors. Unlike traditional modal
analysis methods, this paper proposes a new approach for estimating
participation factors from measurements on generator responses under a
range of disturbances. This method computes extended participation
factors that coincide with accurate model-based participation factors,
provided that the measured responses satisfy an ideally symmetric
condition. This paper further relaxes the symmetric condition by
identifying a coordinate transformation from the original measurement
space to an optimal new space for the best symmetry. Consequently, the
optimal estimation of participation factors solely from measurements is
achieved, and the factors influencing accuracy are discussed. The
proposed approach is comprehensively demonstrated using a two-area
system and then tested on an NPCC 48-machine power system.