Risk-based stress indicator for cascading contingencies

In order to assess power systems for exposure to cascading contingencies, this paper proposes a risk-based stress indicator, which measures the ability of the system to handle possible `N-k' contingencies under a specific operation point. Successive application of line outage distribution factor (LODF) is adopted to compute power flows following outage of K lines. The risk-based stress indicator provides the ability to continuously monitor the power system for cascading exposure. Our methodology has been verified using the IEEE 30-bus system.