Abstract: The research presents a study in evaluating the performance of several voltage stability indices used for dynamic voltage collapse prediction in power systems. A new voltage stability index has been proposed and it is named as the power transfer stability index. The proposed index is then compared with other known voltage stability indices such as the voltage collapse prediction index, the line index and the power margin. To evaluate and compare the effectiveness of these indices in predicting proximity to voltage collapse, simulations are carried out using the WSCC 9 bus test system. Simulation test results show that the proposed power transfer stability index and the voltage collapse prediction index give a better prediction of dynamic voltage collapse compared to the power margin and the line index.