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Remedial Action Schemes (RAS) have been increasingly used by utilities to mitigate instability problems following the loss of one or more transmission lines on a transmission corridor to prevent the power system from out-of-step conditions that may result in cascading system-wide outages. To resolve existing RAS limitations caused by growth of intermittent renewable generation and load mutability, a Smart RAS is proposed. Different from most of the existing logic variable triggered RAS, the Smart RAS takes synchrophasor-measured real power of tie lines between two grid areas and is triggered using an AIEM (Adaptive Impact Energy Method) application. Due to the special features of this no-parameter model and no-setting criteria, AIEM will respond faster and will adapt to a variety of situations in real time. The simulations demonstrate the validity of the model and criteria, as well as the efficiency of prediction and mitigation of instability. A current SCE C-RAS (Centralized RAS) project will provide the real time platform for a Smart RAS.