An optimization-based method is presented for determining the scheduling of reactive equipment (capacitors for example) on an hourly basis for maximum steady-state power system security during normal and post-contingency conditions. The method simultaneously deals with the effects of a number of contingencies, and includes all bus voltages as constraints. The intended application is to schedule existing capacitors during periods of light load to prevent abnormally high voltages from occurring during normal and post-contingency condittons. Results from tests using a Pennsylvania-New Jersey-Maryland Interconnection (PJM) model are presented.