A risk-based security index for determining operating limits in stability-limited electric power systems

This is the authors' abstract. We don't add key points for this paper.

This paper is motivated by a concern that dynamic security limits based on the most severe contingency and scenario often result in operating restrictions corresponding to low or no risk but very high costs. A new risk-based security index is presented which accounts for both probability and impact of instability and is useful in determining operating limits. The approach is illustrated for a stability-limited system in Arizona.