SUMMARY
This paper analyzes the influence of different static limits representation of generators on the load margins in voltage stability studies. Usually, a static representation of reactive power limits sets the reactive power generation at a machine to its maximum (or minimum) capacity. In this paper, an approach that considers the internal voltage of generators is presented, so both models are compared. These procedures are established using conventional bus type and the remote control bus type representations (PQV, P and θ bus type). These models are applied to a multi‐machine system under different operating conditions. This knowledge aggregates crucial information to the analysis of the operating limits of the system. Thus, the main contribution of this paper is the accurate determination of load margin when different generator reactive power limits models are considered. Hence, the role of the overexcitation of generators is highlighted as a function of the reactive power margin.