The modern lifestyles and energy usage patterns have rapidly raised the demand for electrical energy and are completely dependent on it. This necessitates mandatory requirements for the operator to maintain high reliability and stability of the power system. However power system is non linear in nature and its operation keeps changing continuously. When the system is imbalanced it causes a total blackout. A blackout is a total crash of power grid due to an imbalance in power generation and consumption. The probable causes for these blackouts to be caused could be due to serious faults, failure of synchronisation between the generators, natural disasters such as lightning, snow, rain, short circuit, switch gear failure and so on. There is a need to improve the security and stability of the power system which should be very high. Learning from the blackout makes it significant to be more cautious and careful in the operation and maintenance of the power system components. In order to avoid catastrophic outages appropriate control actions must be taken which includes software algorithms, use of computer technology, integration of relay models and control device models including emergency control systems in the dynamic simulation software tools. Thus many new concepts and technologies are emerging to make a power system more reliable and efficient so as to overcome the difficulty caused by the blackouts and to avoid it as much as possible keeping the stability power system.