Risk assessment of cascading failures in power grid based on complex network theory

Cascading failure is an intrinsic threat of power grid to cause enormous cost of society, and it is very challenging to be analyzed. The risk of cascading failure depends both on its probability and the severity of consequence. It is impossible to analyze all of the intrinsic attacks, only the critical and high probability initial events should be found to estimate the risk of cascading failure efficiently. To recognize the critical and high probability events, a cascading failure analysis model for power transmission grid is established based on complex network theory (CNT) in this paper. The risk coefficient of transmission line considering the betweenness, load rate and changeable outage probability is proposed to determine the initial events of power grid. The development tendency of cascading failure is determined by the network topology, the power flow and boundary conditions. The indicators of expected percentage of load loss and line cut are used to estimate the risk of cascading failure caused by the given initial malfunction of power grid. Simulation results from the IEEE RTS-79 test system show that the risk of cascading failure has close relations with the risk coefficient of transmission lines. The value of risk coefficient could be useful to make vulnerability assessment and to design specific action to reduce the topological weakness and the risk of cascading failure of power grid.