Power system security assessment based on the concept of risk is required in the current power environment. In risk based static security assessment, the likelihood and severity of security violation are the two main factors that determine the security level of a power system. The objectives of this study was to perform a feasibility study of non-sequential Monte Carlo in probability estimation of contingency and provides an indepth interpretation of risk index value by classifying the risk into low, medium and high risk operating point. The probability estimation of contingency that causes security violation is determined using non-sequential Monte Carlo simulation. In this approach, the continuous severity function is used due to its ability to capture both near violating and violating impact of a contingency. A risk classification technique is also developed so as to provide a qualitative interpretation of the risk index value by classifying the risk as low, medium and high degree of risk. Implementation of the feasibility study of the proposed approach to determine the probabilistic risk in risk based static security assessment using the non-sequential Monte Carlo simulation and to classify the risk has been demonstrated on the IEEE RTS-96 test system.
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