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This paper invests in the potentiality of transmission capability flexibilization of power system to improve the margin of stability system. Series compensation is using to change the transmission line reactance by means of controlled switching strategy. Switching follows the concepts of variable structure control to force the system stabilization. The control strategies perform sliding mode operation, asymptotic stability mode and a combined sliding and asymptotic stability mode. In addition, control Lyapunov functions is applied to control the electric power flow. A power system consisting of two electric subsystems interconnected by a line reactance with series compensation is used as a case study. Simulation tests are then performed for the basic power system for an initial condition and then under a disturbance. The integrated control applied in this system shows to be adequate for power system stabilization.