Grid risk assessment based on cascading failure model

The paper proposes a new method to assess the grid risk based on cascading failure model. Compared with the traditional N-1 or N-2 method, the method considers all factors that affect the process of cascading failure, including the trip of overloading line, the action of automatic security equipment and the hidden failure of line protection. And the paper emphasizes on the multiple hidden failure of line protection, and uses Bayesian network to calculate the probability of every failure sequence. Finally a risk index is defined to identify key lines. The simulation on a regional grid in Guangdong Province proves the effectiveness of the method.