In this paper, the RCF method is applied to analyze small signal stability of power systems including GTO controlled parallel FACTS equipments such as STATCOM. To apply the RCF method in power system small signal stability problems, state transition equations of generator, controllers and STATCOM are presented. In eigenvalue analysis of power systems, STATCOM is modelled as the equivalents voltage source model and the PWM switching circuit model. As a result of simulation, the RCF method is very powerful to calculate the oscillation modes exactly after the switching operations, and useful to analyze the small signal stability of power systems with periodically operated switching devices such as STATCOM.