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Con Edison's distribution systems supply power to more than 3 million customers in New York City and Westchester County. About 85% of the load in the Con Edison service territory is supplied by underground low-voltage network systems. The reliability of underground low-voltage network systems is extremely high and Con Edison uses Network Reliability Index (NRI) programs - the Contingency program and...
In power system planning and operation, accurate assessment of reliability worth is essential for making informed decisions. One common simplification when modeling power system reliability is assuming constant failure rates and non time-varying restoration times. However, historical outages show differently; failure rates and restoration times for especially overhead lines are dependent upon time-varying...
Value at Risk (VaR) is an appropriate method in financial world for evaluating risks. The method measures the losses within a considered time interval and a defined confidence level in actual currency. The simplicity and objectivity of VaR concludes to the idea to apply this method for power systems risk assessment. In this paper the methodology is applied for risk evaluation in the context of asset...
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