A system and method for intelligent monitoring and management of an electrical system is disclosed. The system includes a data acquisition component, a power analytics server and a client terminal. The data acquisition component acquires real-time data output from the electrical system. The power analytics server is comprised of a real-time electrical system security index engine that calculates real-time system security index values from stability indices data generated from a virtual system model of the electrical system. The client terminal displays the system security index values to assess the security and stability of the electrical system.