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This investigation develops a new definition of the voltage fluctuation (ΔV) electric arc furnace. Analysis of voltage flicker spectrum in the 0.25-30-Hz range reveals that the magnitude of each modulation frequency component decreases with frequency, while the standard deviation of each frequency component is high. From the statistics of electric arc furnace real time test data, the loads can be classified as weakly stationary processes, but lack a Gauss probability distribution. Traditionally, the equivalent 10-Hz voltage fluctuation (ΔV10) value can be obtained from ΔV/3.6. However, the real world tests and statistics indicate that the ratios of ΔV/ΔV10 are 1.8, not 3.6.