Whither probabilistic security management for real-time operation of power systems?

This paper investigates the stakes of introducing probabilistic approaches for the management of power system´s security. In real-time operation, the aim is to arbitrate in a rational way between preventive and corrective control, while taking into account i) the prior probabilities of contingencies, ii) the possible failure modes of corrective control actions, iii) the socio-economic consequences of service interruptions. This work is a first step towards the construction of a globally coherent decision making framework for security management from long-term system expansion, via mid-term asset management, towards short-term operation planning and real-time operation.