Equivalent energy function approach to power system probabilistic modeling

A novel approach, the equivalent energy function (EEF) method, is presented for power system probabilistic modeling. The method performs convolution and deconvolution by using electric energy directly so that the probabilistic modeling is considerably simplified. The EEF method is not only more efficient than any other available method in this domain, but is also more flexible in treating assigned energy units. An approximate deconvolution algorithm and a LOLP (loss-of-load-probability) formula are also given which enable probabilistic modeling to be performed even faster. Numerical examples demonstrate that the proposed algorithm is simple, efficient and more accurate