Iterative algorithms called Vector Fitting (VF) appear in the power system community as a powerful system identification tool, with successful applications in areas such as modeling frequencydependent equivalent networks, modeling transmission lines and electrical transformers and passive macromodeling. However, using only output signals, the VF method has only recently been adapted to the context of estimation of oscillatory modes from ringdown data (transients). In this sense, there are two parallel proposals in this work. The first is to present the gains in estimating the damping in oscillatory modes, not only from autonomous measurement of PMU signals, but also with the inclusion of probing signals. The second is to present the application of the Vector Fitting Method for the estimation of oscillatory modes of electrical power systems (SEPs), using the active and reactive powers on the system buses as probing signals, by operating the system in a quasi-stationary regime (ambient data). These two contexts were tested in a well-known 11-bar test system, with four thermal turbines, whose frequency, voltage and active and reactive power data were known. The results obtained through the VF method were compared with those obtained through the Yule Walker method. The results obtained showed the ability of the VF algorithm to generate models whose outputs satisfactorily approximate the measured data. The electromechanical poles obtained through the simulations were validated through the poles obtained from the computer program PacDyn for dynamic stability analysis in power systems.