Providing a reliable and economical supply of electricity to customers has always been of paramount importance of electric power systems.The failures of electric power systems can have enormous economic costs and serious negative social impacts.For example,half of India’s population was affected by the massive blackout of India’s power grid in 2012,which was the largest power system failure in history.Therefore,risk issues have been extensively and continuously recognized and studied from viewpoints of both power system planning and operation for decades.
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