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