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Abstract
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Although the presence of clean energy resources in power systems is required to reduce greenhouse gas emissions, system security faces severe challenges due to its increased intelligence and expansion, as well as the high penetration of renewable energy resources. According to new operating policies, power systems should withstand subsequent single contingencies. Also, the effect of electrical and structural characteristics must be considered in power system security assessment. Thus, this paper introduces a comprehensive risk-based approach that quantifies the impact of contingency-induced variation in topology by using complex network theory metrics. Then, it identifies elements that surpass security limitations and eliminates them to execute cascading outage analysis via AC power flow. Lastly, wind power uncertainty and contingency probability are multiplied by the linear combination of electrical and structural consequences, and security status is assigned to each contingency based on its risk value. Additionally, simulations are carried out on modified 118 and 300 bus IEEE systems, and the extensive results are utilized to demonstrate the effectiveness of the proposed methodology.
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