Electrical characteristics of transmission lines consisting of single and multiple conductors. Equations and equivalent circuits of short- and medium-length transmission lines. Differential equations of long transmission lines. Two-port circuits. Inductive and capacitive compensation of transmission lines. Flexible AC Transmission Systems (FACTS) controlled by thyristors or converters. Static Var Compensators (SVC). Thyristor-Controlled Series Capacitors (TCSC). Phase-Shifters. STAtic synchronous COMpensators (STATCOM). Static Synchronous Series Compensators (SSSC). Unified Power Flow Controllers (UPFC). Operating characteristics of FACTS and their contribution to power system stability. The role of FACTS in Power Market Deregulation.