In this paper it is shown how the robustness and the coordination of the voltage regulation actions for the transmission grid can be improved. Simpler approaches which ensure higher robustness and performances can be used if the control objectives are pursued at two hierarchical levels of different nature. Also, this is a way to coordinate means of control of different nature with a sufficient time and methodological separation in order to avoid negative mutual influence. At the first level, called the static level, optimal reachable set-points are computed for the second control level, called the dynamic level. The static level can be combined with the shunt reactive power compensation. The system non-linearities are taken into account at the static level while the dynamic level is a linear robust predictive control which takes into account the presence of asynchronous transmission delays. The predictive control strategy is based on the separation property; the output delays are handled using an original steady-state Kalman predictor of order equal to the length of the state of the system without delays. The robustness is improved at the dynamic level against uncertain delays, parametric uncertainties (like, e.g., moderate topological errors and load variations not taken into account in the control model) and unmodelled dynamics. The two-level organisation of the control allows, on one hand, to take into account the important evolutions of the system (like, e.g., large and known topological and load changes) and, on the other hand, a coherent hybrid reactive power control: the switched control of the grid shunt compensation for the reactive power is done at the static level while the reactive power injection provided by the generators is continuously handled at the dynamic level. This is a theoretical analysis of how concepts of automatic control and voltage regulation of power systems can be combined. To be applied as a control scheme, the results presented here should be adapted to a specific context (particularities of the power system and of the organisation of the power industry). They can be used, eventually in conjunction with other improvements, to existing horizontally-organised interconnections (in which all generators of a controlled region can be easily managed since owned by the same utility) or to face specific requirements of moving to the open access in the electric power industry like, e.g., tolerating simplified models in order to cover larger regions, taking into account the interaction between regions, recalibrating set-points, assisting human operator when necessary or facilitating implementation of mechanisms for the management of the reactive power based on price signals.