The continuous growth of the electrical system, resulting in growing electric power demand, is putting great emphasis on system operation and control. These topics, together with system reliability and security, are becoming more and more of interest for the research community, in particular due to the recent trend towards restructuring and deregulation of the power supplies. It is under this scenario that Flexible AC Transmission Systems (FACTS) Controllers at transmission level and Custom Power Devices at distribution level represent both opportunities and challenges for an optimal use of the power systems. In particular, the Static Synchronous Compensator (STATCOM) is a key device for reinforcement of the stability in an AC power system ...