Abstract: The critical voltage and limit power reflect the growth of the load in the current system and current voltage level for the power system voltage stability analysis. A new continuation power flow method with parameterization technique is proposed to draw P\|U curve, and to track the critical voltage and limit power of the system. By nonlinear predictor and parameterization based on geometric similarity theory, the singularity of Jacobi matrix at limit power for conventional power flow equations is overcome. This method is simple, easy to understand, and has good convergence. The efficiency of the program is improved by the method of automatic change\|step. The critical voltage and limit power of the system are tracked successfully by the proposed method with the examples of IEEE39\|bus and IEEE118\|bus test systems, which show the correctness and validity.