Steady‐State Security

This chapter discusses power system security, and focuses on steady‐state security. Power system reliability is managed in order to minimize the impact to society. Ideally, the achieved power system reliability represents the optimal balance between the value of reliability and its cost. This chapter introduces power system reliability management, and explains the challenges due to uncertainties in reliability management in different timeframes ranging from long‐term system development up to short‐term system operation. It goes more into the shortcomings of currently used reliability criteria. The chapter also elaborates on the socio‐economic evaluation of power system reliability management considering the trade‐off between the cost of reliability management and interruption costs. The power system model in dynamic security assessment is given by non‐linear differential equations whose boundary conditions are given by the non‐linear power flow equation.