Trial Implementation of a Multihazard Risk Assessment Framework for High-Impact Low-Frequency Power Grid Events

The Pacific Northwest National Laboratory developed a risk framework for modeling high-impact, low-frequency power grid events to support risk-informed decisions. In this paper, we briefly recap the framework and demonstrate its implementation for seismic and geomagnetic hazards using a benchmark reliability test system. We describe integration of a collection of models implemented to perform hazard analysis, fragility evaluation, consequence estimation, and postevent restoration. We demonstrate the value of the framework as a multihazard power grid risk assessment and management tool. The research will benefit transmission planners and emergency planners by improving their ability to maintain a resilient grid infrastructure against impacts from major events.