Abstract: With the wide application of 220 kV transmission lines in regional power grids, some iron towers have experienced foundation settlement under complex geological conditions and long-term loads, leading to the reduction of electrical safety distance, the decrease of insulation margin, and the deterioration of grounding current dispersion capacity. To solve the problem of rapid evolution of electrical risks under settlement conditions, from the perspective of electrical safety, this paper systematically analyzes the influence mechanism of settlement on spatial electric field distribution, insulator string stress, and lightning protection current dispersion characteristics, constructs a dynamic adjustment model of span sag and an equipotential control method for live lifting, and proposes a flexible grounding reconstruction technology. Verified by typical cases of crossing high-speed railways and goafs, the results show that the proposed technology can restore the electrical clear distance and grounding performance under non-power-outage conditions, and realize the coordinated improvement of settlement treatment and electrical safety.