Chaotic oscillation in a power system is taken to be the main cause for power blackouts in large-scale interconnected power grid. This paper studies a 2-D power system with chaotic oscillation dynamic behaviors through parameter phase portraits, Lyapunov exponents, time-domain waveform graph and proposes fuzzy fast terminal sliding mode controller based on equivalent control to stabilize the power system to synchronization status. Simulation results show that our control scheme can not only speed up convergence rate, but also have smooth control action, reduce control energy and suppress chattering phenomenon effectively.