Power system Extreme Event Risk assessment based on conditional value at risk

Abstract

Risk assessment of power system is of great significance to ensure the safe and stable operation of power grid. Traditional risk assessment methods mainly focus on the system loss under common conditions, but they cannot reflect the possible load loss of the power grid under extreme conditions, which may lead to the misjudgment of operational designers. Based on the generalized extreme value theory and conditional value at risk measurement theory, this paper proposes a risk assessment method of power system extreme events based on conditional value at risk, focusing on the power network risk under the condition of low probability and high loss failure. Finally, combined with IEEE-RBTS6 node system, the difference between the proposed method and the traditional method in risk assessment results is compared, and the effectiveness of the proposed method in power system extreme event risk assessment is verified.