Evaluation of Importance and Related Reliability Measures for Electric Power Systems

Evaluation of the probability and frequency of system failure has a relatively long history in power system reliability calculations. The reliability computations have in most practical cases been reduced to approximate calculations due to the computational effort required. The information about system reliability described by those indices can be enhanced considerably by introducing measures of relative reliability importance of system components. Such measures account for structural importance of the components, as well as for their reliability characteristics.