What is claimed is:1. A voltage-ampere reactive (var) compensator circuit, comprising:a gas tube switch configured to be coupled to a transmission line, the transmission line configured to deliver real power and reactive power to a load at an alternating current (AC) line voltage; anda reactive impedance configured to be coupled to the transmission line at the AC line voltage through said gas tube switch, said reactive impedance configured to modify the reactive power configured to be delivered to the load.2. The var compensator circuit in accordance with claim 1, wherein said gas tube switch and said reactive impedance are configured to be coupled in series with the transmission line.3. The var compensator circuit in accordance with claim 1, wherein said gas tube switch and said reactive impedance are configured to be coupled in a shunt circuit with respect to the transmission line.4. The var compensator circuit in accordance with claim 1, wherein said gas tube switch is configured to be controlled by a controller based on at least one of a measured line voltage and a measure current for the transmission line.5. The var compensator circuit in accordance with claim 4, wherein said gas tube switch is further configured to be controlled at a switching frequency of at least 500 hertz.6. The var compensator circuit in accordance with claim 1, wherein the AC line voltage is at least 100 kilovolt.7. The var compensator circuit in accordance with claim 1, wherein said reactive impedance comprises an inductor configured to produce a current lagging the AC line voltage in phase.8. A voltage-ampere reactive (var) compensator circuit, comprising:a gas tube switching network configured to be coupled between a first transmission line and a reactive impedance, the first transmission line configured to deliver real power and reactive power to a load at an alternating current (AC) line voltage, the reactive impedance configured to modify the reactive power configured to be delivered to the load, said gas tube switching network comprising at least one gas tube switch; anda controller coupled to said gas tube switching network, said controller configured to selectively commutate said at least one gas tube switch to couple the reactive impedance to the first transmission line and apply the AC line voltage to the reactive impedance.9. The var compensator circuit in accordance with claim 8, wherein the first transmission line includes three phases and the reactive impedance includes three reactive impedances, and wherein said gas tube switching network further comprises three gas tube switches respectively coupled between the three phases of the first transmission line and the three reactive impedances.10. The var compensator circuit in accordance with claim 9, wherein said three gas tube switches are configured to selectively couple the respective reactive impedances to the first transmission line.11. The var compensator circuit in accordance with claim 8, wherein said controller is further configured to selectively commutate said at least one gas tube switch based on a measured AC line voltage for the first transmission line and a measured AC line current.12. The var compensator circuit in accordance with claim 11 further comprising:a voltage sensor coupled to the first transmission line and said controller, said voltage sensor configured to detect the measured AC line voltage; anda current sensor coupled to the first transmission line and said controller, said current sensor configured to detect the measured AC line current.13. The var compensator circuit in accordance with claim 12, wherein said controller is further configured to:compute a phase difference between the measured AC line voltage and the measured AC line current; andselectively regulate said gas tube switching network based on the phase difference.14. The var compensator circuit in accordance with claim 8, wherein said gas tube switching network is further coupled between the reactive impedance and a second transmission line, and wherein said controller is further configured to regulate said gas tube switching network to transfer reactive power generated by the reactive impedance and real power present on the transmission line to the second transmission line.15. A flexible alternating current (AC) transmission system (FACTS), comprising:a transmission line coupled between a power source and a load, said transmission line configured to deliver real power and reactive power to the load at an AC line voltage;a gas tube switching network coupled to said transmission line, said gas tube switching network comprising a plurality of gas tube switches;a controller coupled to said gas tube switching network, said controller configured to regulate said plurality of gas tube switches based on a measured AC line voltage and a measured AC line current; anda reactive impedance configured to be coupled to said transmission line through said gas tube switching network at the AC line voltage, said reactive impedance configured to generate additional reactive power.16. The FACTS in accordance with claim 15, wherein said reactive impedance comprises at least one fixed capacitance and at least one fixed inductance.17. The FACTS in accordance with claim 15, wherein said plurality of gas switches is each operable to switch at voltages exceeding 100 kilovolts.18. The FACTS in accordance with claim 15, wherein said controller is further configured to:detect current harmonics on said transmission line; andregulate said gas tube switching network such that the additional reactive power is includes an inverse of the current harmonics, thereby cancelling the current harmonics on said transmission line.19. The FACTS in accordance with claim 18, wherein said controller is further configured to commutate said plurality of gas tube switches at a switching frequency of at least 500 hertz.20. The FACTS in accordance with claim 15, wherein said controller is further configured to:regulate said plurality of gas tube switches to generate the additional reactive power; andsubsequently regulate said plurality of gas tube switches to modify the additional reactive power based on a second measured AC line voltage and a second measured AC line current for said transmission line.