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Based on entropy weight-based gray relational method, a new outcomes severity model of security assessment is put forward. This model mainly reflects severity degree and fully shows the influence degree of different factors affecting severity. And risk factor is introduced to assess the system security after contingencies, computed by the product of contingency probability and outcome severity degree. This method can avoid computing the economic severity and provide a simple and intuitive guidance for operators making decision. In this paper, low voltage security assessment is studied especially. Simulation of New England 39-bus system verifies the validity of the above method.