Investigating Various Severity Factor Behaviors for Operational Risk Assessment

Abstract

Operational risk assessment is a stochastic approach to quantify the operational security of power systems. In this study, the interrelation between severity factor and operational risk, two important parameters in operational risk assessment, is analyzed. Four different definitions of severity factor, based on the results from network studies, are proposed and applied, resulting in different values for the operational risk indices. The behavior of these indices is analyzed under varying operating conditions and compared with the behavior of the severity factor for individual contingencies. This study confirms the importance of the severity factor definition and shows that multiple operational risk indices are required to obtain a clear picture of the operational security of a transmission system. One risk index may increase while another decreases.

Stochastic Assessment of Risk of Light Flicker in a Household

“…There are several definitions of risk applied to different areas of knowledge. The first novelty of the paper is the application of the concept of risk defined in [16] to light flicker. The risk defined in [16] considers the probability of occurrence and the severity factor (SF) associated to a contingency.…”

“…The first novelty of the paper is the application of the concept of risk defined in [16] to light flicker. The risk defined in [16] considers the probability of occurrence and the severity factor (SF) associated to a contingency. The contingencies assessing flicker in a household are the voltage fluctuations from the household devices.…”

“…The definition of risk in [16] is applied here to study light flicker as explained in Sub-section I.B. The risk of light flicker index (risk is defined as the probabilistic number of voltage fluctuations in a 10-minute interval producing light flicker equal to or over the perception threshold (𝑃 = 1) in a generalized LED lamp.…”

Graphical Ways to Visualize Operational Risk Results for Transmission System Contingencies

“…After performing contingency analysis, i.e., studying the transmission system for all cases when two components are unavailable, the impact of contingency cases is quantified in terms of severity factors. To calculate the severity factor F s (c), network studies are required [33]. In this study, four types of network studies are carried out, which correspond to four different severity factors.…”

Design of a Wide-Area Power System Stabilizer to Tolerate Multiple Permanent Communication Failures

“…Generating, transmitting and distributing electricity continuously, without interruptions, with quality levels, without losses, without environmental damage and at the lowest economic cost are the main objectives of operating power systems. However, different types of contingencies and disturbances can occur and compromise the proper and desired operation of power systems [1][2][3][4].…”