The Effect of Decision Analysis on Power System Resilience and Economic Value during a Severe Weather Event

Due to climate changes, many natural disasters have become more serious, such as the intensity of typhoons that are getting higher every year. The characteristics of such a disaster is high-intensity but low-probability event (HILP). How to survive such disasters and increase system resilience in power systems have become an important issue. This paper used a model about line faults to simulate the line failure probability when wind speeds reach up to a certain level, and used a quantitative method to calculate power system resilience. Then, a high resilience was obtained using different precautionary strategies on power system operations, and the differences between the original operation and improved operations were compared. In addition to resilience assessments, this paper also considers economic value (EV) analyses, which makes the system operators to understand whether these preventive measures have a high economic value to be implemented, and to understand under what circumstances the system operators need to perform appropriate actions to obtain the most benefits. This study used the actual load data of Taiwan's power system during typhoons to analyze both resilience assessments and EV evaluation. The simulation results can provide power system operators with more flexible and cost-optimized suggestions to reduce the risk caused by climate factors that are like extreme weather events.