This paper presents a study to obtain P-V curve using continuation power flow method, including two stages. In the first stage, prediction is accomplished by secant method and correction is accomplished by perpendicularly intersection technique. In the second stage, P-V curve is used to analyze voltage stability and identify point of voltage collapse in power system. Based on continuation power flow algorithm, a MATLAB program has been developed to withdraw P-V curve and identify point of voltage collapse in power system. The program has been tested by IEEE 14-bus test power system with detail analysis for received P-V curve.