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Initializing internal variables in dynamic power system simulations is a two-stage process. First, a power flow model is used to find the steady state bus variables. Second, values for the internal variables associated with bus connected components are determined such that the components' terminal values match the bus variables calculated from the power flow model. Initializing most components' variables is a straightforward, direct process. However, initializing induction machine variables traditionally uses an indirect, iterative process. In this paper, eigenvalue formulations are detailed for both the induction machine initialization and power flow models, which provide a direct method for determining all possible sets of induction machine initializations and offer a novel model for the power flow equations.