Risk Assessment of Power Systems
Models, Methods, and Applications
Chapter One
INTRODUCTION
1.1 RISK IN POWER SYSTEMS
There is considerable overlap in the words "risk" and "reliability." In this book, it is
assumed that the two words have the identical implication. They are the two facets
of the same fact. Higher risk means lower reliability, and vice versa. Risk management
has a wide-ranging content. The intent of the book is to discuss the models,
methods, and applications of risk assessment in physical power systems. Risks associated
with business, finance, and life safety are not included in the discussion.
The probabilistic behavior of power systems is the root origin of risk. Random
failures of system equipment are generally outside the control of power system personnel.
Loads always have uncertainties and it is impossible to obtain an exact ... read full excerpt from Risk Assessment Of Power Systems: Models, Methods, and Applications ebook
