This paper presents the framework for analysis of small-signal stability. In this framework the equilibrium points of system DAE model are traced using continuation method and instability points are determined on the solution path. Especially Implicit shift QR-modified Arnoldi method is utilized to calculated the rightmost eigenvalues. Small-signal stability is becoming one of the major factors that affect the ATC in the environment of deregulation. Stability limited ATC is easily evaluated in this stability analysis process.