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This paper proposes a method for analyzing the vulnerability of a power system using network theory. It locates fault by combining the travelling waves methodology with the network topology to isolate the faulty link first and then locate the fault distance. The algorithm is verified on a test power network using Alternate Transients Program/Electromagnetic Transients Program (ATP/EMTP) and Matlab. The time stamps recorded are combined with the network topology to isolate the faulty link and calculate the fault distance.