Event‐based remedial action scheme against super‐component contingencies to avert frequency and voltage instabilities

Frequency instability, voltage instability or a combination of both have been the cause of several power system breakdowns throughout the world in the recent decades. Occurrence of a super‐component contingency (SCC) that refers to multiple and simultaneous outages of grid facilities like a power plant or substation may lead to blackout if no remedial action schemes (RAS) are implemented. This study proposes a new event‐based RAS to overcome the frequency and voltage instabilities caused by SCCs through optimal load shedding. To do this, a new multi‐objective framework is presented simultaneously optimising the competing objective functions of long‐term voltage stability margin, steady‐state frequency deviation, maximum transient frequency deviation and load shed amount. A modified system frequency response model is also proposed for frequency stability assessment. Multi‐objective decision making (MODM) is performed using a combination of analytical hierarchy process, modified augmented ε ‐constraint method and technique for order preference by similarity to ideal solution. The effectiveness of both the proposed model and MODM solution approach is extensively illustrated on a simulated model of Iran's power system in 2012.