Due to continuous increase in load demand, power utilities are forced to enhance the utilization of existing transmission facilities. It is quite difficult to construct new transmission lines due to environmental and economic considerations. As power systems become more complex and heavily loaded, along with environmental and economic constraints have forced operation of power systems near to their operating boundaries. Under such situations, a power system enters a state of voltage instability, which results in a progressive and an uncontrollable voltage decline leading to voltage collapse. Voltage collapse is a major cause for many power system blackouts around the world and voltage instability tends to occur from lack of reactive power supports In order to prevent the occurrence of voltage collapse, it is essential a fast and accurate voltage stability index to help them for monitoring the voltage stability condition of a power system and enhancing the voltage stability when the system enters near the unstable condition.This research work presents a new methodology for the estimating and enhancing of voltage stability margin.