Based on complex network theory, a modified admittance model of a power system is constructed. Cascading failures of power grids are studied with topological and electrical characteristics of power grids. Cascading failures are made by removing transmission lines randomly. Effects of the number of nodes, average degree, number of power stations and distribution of power stations on system robustness are studied. Braess paradox phenomenon in the cascading failures of small world power grids is studied. It shows that robustness of a power grid is closely related to its topological structure. As the average degree is great, there exist several bifurcation points in the robustness curve of the nearest-neighbor coupled network and the small world network. In small world structure power grids, generally, the greater the average degree and the number of nodes, the more power stations, the better robustness of the power grid. Robustness of a power grid with distributed power stations is better than that with centralized distribution. In addition, the Braess phenomenon, which leads to the decrease of robustness due to the increase of network capacity, is explained.