An out-of-step condition results from the loss of the synchronism of the generators. A disturbance in a power system causes the generator angle to oscillate. When there is a severe disturbance such as a heavy current fault loss of major generation or loss of a large block of load, the oscillation can be severe and even increase largely and finally the out-of-step condition may un. During the power swing and out-of-step conditions, the apparent impedance at a relay location changes, and the power flow also changes as the angle difference is varied. This paper presents a method to analyze the trajectory of complex power during a power swing and out-of-step condition. The trajectory of the complex power is analyzed when a power swings and a fault occurs. Moreover, the complex power is analyzed when the ratios between the voltages at both sides and the line impedances are changed. These methods are verified through simulation using the ATP/EMTP MODELS.