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The need to analyze high-impact low-probability events on power systems, due to natural and man-related threats calls for comprehensive approaches to security assessment, which exploit the concept of risk. The paper describes a probabilistic approach and a tool, developed in the EU research project AFTER, aimed at selecting the most critical contingencies to be analyzed in depth, starting from short-term...
Summary form only given. A comprehensive methodology is developed for the analysis of power system vulnerability with respect to energy shortage, capacity shortage and power system failures. The basic method is risk analysis, where risk is defined in terms of the probability of events and their consequences. The objective is to identify medium and high-risk situations that require corrective actions...
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