Abstract-An improved Thévenin equivalent method for realtime voltage stability assessment that uses wide-area information from synchrophasors is proposed. The improvements are a better modeling of the limited synchronous generators, and a processing that anticipates the effect of field current limiters, before the latter are activated. Several study cases using detailed dynamic simulations of the Nordic test system have been used to assess the performance of the proposed improvements. Their effectiveness is analyzed and, based on the results, their possible application in combination with the sensitivity-based voltage stability assessment method is explored.