This paper discusses a novel approach for damping interarea oscillations in a bulk power network using multiple unified power flow controllers (UPFCs) utilizing ultracapacitors, also known more generally as electrochemical capacitors (ECs). In this paper, a new control is introduced to mitigate interarea oscillations by directly controlling the UPFCs' sending and receiving bus voltages that better utilizes the stored energy in the ECs. The results of this controller are compared with and without ECs. The proposed control provides better interarea oscillation mitigation when applied to multiple UPFCs in the 118-bus IEEE test system.