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In the two-terminal fault location of the power transmission lines, In order to avoid the error of location result due to the impaction of system resistance, transition resistance and TA saturation and improve the accuracy of distance location, a new method of transmission line fault location which only depends on dual-voltage fault components is introduced in this paper. Basing on the linear superposition principle and symmetrical component method, the additional positive sequence network was established, and the fault location formula was derived with voltage fault components only. The simulation is carried out with PSASP and MTLAB software, Location results under different fault types and transition resistance were obtained respectively. The simulation results show that the results are scarcely affected by the above three factors, and fault location could be accurately carried out, besides, the results are easy to achieve without solving the long-term equation which comply with the requirements of fast and accurate in the on-line fault location.