Voltage sags are a serious problem within power supplies, which pose threats to both residential electricity and industrial manufacturing. Since any one sag may be recorded by multiple monitoring devices from different substations, the issue of redundant information in data arises. In this regard, a novel method for voltage sag events based on projection technology, shape dynamic time warping (shapeDTW), and spectral clustering is proposed. The main contributions of this paper may be summarized as follows: (1) We present a new method for extracting the voltage anomaly waveform, which is a fast projection segmentation algorithm (FPSA). The voltage sag waveform is only a part of the voltage anomaly waveform, so the voltage anomaly waveform contains more information. (2) ShapeDTW and spectral clustering are used to match and cluster voltage anomaly waveforms, so as to achieve the normalization of voltage sag events. (3) In practical engineering, the proposed method in the paper can be used to obtain the impact of voltage sags, reduce computational complexity, and ease the workload of the operation and maintenance engineers. Experiments were conducted using voltage sag data from voltage sag events recorded by the 10 kV monitoring points in Beijing, China. The results showed the effectiveness and reliability of our proposed methods.