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This paper focuses on a new approach for contingency ranking with respect to saddle-node bifurcation induced voltage collapse. The proposed contingency ranking method has been done by estimating the post-contingency voltage collapse point (VCP), given pre-contingency VCP with forecasted load demand and generation dispatch. The features of the new approach are the abilities to estimate the post-contingency VCP directly with sensitivity analysis and rank contingency cases quickly and accurately for large power systems. The proposed method has been tested on the IEEE 118 bus system with 177 single branch outages (9 radial branches are skipped) and 18 single generator outages. Compared with results obtained from full continuation power flow, the new algorithm is shown to be twice as fast with “distance to voltage collapse” estimation errors of less than 1%.