Existing models of future energy systems which include the power grid neglect, or only minimally consider, system stability and the need of ancillary services. However, to assure the reliability of future electricity systems, mapping stability and ancillary service needs is crucial. Additionally, grid limitations due to stability requirements can significantly limit usable grid capacity. One key stability aspect is voltage stability. As a first step towards the modelling of future voltage stability related ancillary services, we analyze the required reactive power compensation of the current grid. This work improves an existing grid model of the Nordic High-Voltage transmission grid based on open-source data with around 400 buses and performs power flow analyses for each hour using Year 2022 as reference year. Then we evaluate the reactive power demands per bus to find the required reactive power compensation for steady state operation. We also analyze available dynamic reactive power compensation from generation for handling voltage stability during contingency events. This analysis is based on grid code requirements and the technical capabilities of both synchronous generators and power park modules. We further validate the model by analyzing system losses and comparing them to reported TSO losses. The work serves as a first step towards finding reactive power compensation demands for future scenarios, as well as considering voltage stability in the case of N-1 contingencies.