Voltage stability refers to the ability of an electrical power system to maintain steady voltage levels under varying load conditions. It is crucial for ensuring that electrical devices operate efficiently and safely. When voltage levels drop too low or rise too high, it can lead to equipment damage or system failures. Factors affecting voltage stability include load demand, generator output, and transmission line characteristics. Proper management of these elements helps maintain voltage levels within acceptable limits, preventing disturbances that could disrupt power supply and affect consumers.