Currently, the phenomenon of voltage instability represents one of the main barriers to the stable operation of electric power networks, which tend to grow and become increasingly interconnected. The difficulty of maintaining an acceptable voltage profile increases substantially and the voltage stability in the operation of the electrical systems must be preserved to the maximum extent in order to avoid the serious effects that its loss entails on the system. This dissertation works in the operation of the electrical system, more specific in the area of operation in real time, where it is important to know the proximity of the operational condition of the current system that corresponds to the critical point of stability. Such knowledge allows preventive actions to be taken in order to avoid instability. The determination of appropriate margins for the various activities carried out in the electric power systems is not a trivial task, motivating the development of this dissertation. The objective of the work is from the comparison between a systemic margin and the nodal margin, calculated respectively by the Continued Power Flow and by the Matrix D method, to determine a criterion for the load capacity margin from the voltage stability point of view, for safe operation. In the event of each contingency, the largest growth (margin) is calculated from the base case, where the nodal indices are still positive. The smallest margin is defined as the minimum margin. The proposed approach was evaluated through the results obtained with a modified version of the so-called Nordic32 test system.