One of the most effective corrective control strategies to prevent voltage collapse and instability is load shedding. In this paper, a multiple-deme parallel genetic algorithm (MDPGA) is used for a suitable design of load shedding. The load shedding algorithm is implemented when the voltage stability margin index of the power system is lower than a predefined value. In order to increase the computational speed, the voltage stability margin index is estimated by a modular neural network method in a fraction of a second. In addition, in order to use the exact values of the voltage stability margin index for neural network training, a simultaneous equilibrium tracing technique has been employed considering the detailed model of the components of the generating units such as the governor and the excitation system. In the proposed algorithm, the entire population is partitioned into several isolated subpopulations (demes) in which demes distributed in different processors and individuals may migrate occasionally from one subpopulation to another. The proposed technique has been tested on New England-39 bus test system and the obtained results indicate the efficiency of the proposed method.