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This paper develops an online risk-based security assessment. It is derived from a fast security-constrained optimal power flow based on multiparametric program. A dynamic critical region exploration algorithm is used to speed up the calculation. Then in order to deal with the less restrictive events, which have no influence on the decision but do contribute risk to the security operating condition, Conditional Value-at-Risk (CVaR) based security index has been proposed. Analysis is presented to demonstrate the benefit and advantage of our algorithm and illustrated on IEEE 118-bus system.

An Online Risk Based Security Assessment Via Conditional Value-at-risk in Uncertain Environment