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The power grid security assessment is used to analyse the existing dangerous and harmful factors of power grid, judging the potential risks as well. The assessment results can provide scientific basis for prevention of accidents and guide management decision-making. In this paper we analyse the various factors that affect the power grid security and propose an indices system for power grid security assessment which includes five main types of security evaluation indices such as the capability of supplying power safely, static voltage security, topological structure vulnerability, transient security and risk indices. As the evaluation results are generally subjective and dynamic values, dynamic fuzzy theory is used in the power grid security assessment.