Three-terminal power line fault location and correction system and method, and computer readable storage medium

The present invention discloses a three-terminal power line fault location and correction system and method, and a computer readable storage medium. An electronic device is electrically connected with a plurality of terminal devices. When a fault occurs at a certain position of the power line, each terminal device detects the fault to generate a fault distance corresponding to the fault; the electronic device corrects the fault distance as follows: the corrected fault distance of one of the terminal devices = (the actual distance between the terminal device and the point of divergence + the function of the actual distances between the remaining two terminal devices and the point of divergence) * the fault distance corresponding to the terminal device/(the fault distance corresponding to the terminal device + the fault distance corresponding to the function of the actual distances between the remaining two terminal devices and the point of divergence).