Voltage stability is an important consideration in power system operation, and the development of voltage stability indices is a key aspect of ensuring the reliability and security of the power grid. In this work, newly constructed voltage stability indices have been discussed that are designed to predict the closeness of a multibus system to voltage collapse. These stability indices are based on the analytical expression of complex power, which allows for a more accurate characterization of the system’s voltage stability. By using these indices, operators can gain a better understanding of the system’s stability and take appropriate actions to prevent collapse. To test the effectiveness of the newly developed index, it was applied to the IEEE bus system. The results showed that the index was able to accurately predict voltage instability or the proximity of a collapse. This is an important step in improving the reliability and security of the power grid, as it allows operators to take preemptive measures to avoid voltage collapse. Overall, the development of these new voltage stability indices is a positive step towards improving the performance of power systems. By providing a more accurate and reliable prediction of voltage instability, these indices can help prevent costly and potentially dangerous system failures.