From a control point of view, the objective of power system operation is to keep the electrical flow as well as voltage magnitudes within acceptable limits in spite of the load changes. The control of voltage level is accomplished by controlling the production, absorption as well as flow of reactive power at various locations in the system. This paper presents an approach to determine a control strategy for maintaining voltage stability following the occurrence of a contingency by means of reactive control. This approach is based on the Model Predictive Control (MPC) theory. Based on an economic criteria and control effectiveness, a control switching strategy consisting of a sequence and amounts of the shunt capacitors to switch is identified for voltage restoration. The effect of the capacitive control on voltage recovery is measured via trajectory sensitivity. This approach is applied to the WECC system to enhance the performance of voltage and to the 39 bus New England system for preventing voltage collapse.