Towards Statistical Methods for Minimizing Effects of Failure Cascades
This paper concerns the potential of corrective actions, such as generation and load dispatch on minimizing the effects of transmission line failures in electric power systems. Three loss functions (grid-centric, consumer-centric, and influence localization) are used to statistically evaluate the criticality of initial contingent failures. A learning scheme for both AC and DC grid models combine a Monte Carlo approach with a convex dynamic programming formulation and introduces an adaptive selection process, illustrated on the IEEE-30 bus system.
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