In this article, a new method based on the combination of CWT and Prony algorithm is presented to study low frequency electromechanical oscillations of the power system. Since the primary purpose of controller is the damping of inter-area and local modes, the identification of modes for control of large scale power systems is very important. The parameters setting of PSS and FACTS device has become a multi-objective problem and will be solved using the NSGA II optimization algorithm. The residual method has been used to improve damping and meet the constraints of the proposed power system controller parameters. Finally, the proposed method was simulated on a known test case system, 2-area, 4-Gen. Simulation results showed good performance of the proposed method to small signal stability of the systems.
