Maximum Risk Calculation Process for Individual Substation Equipment in Primary Side

Commonly, the risk is obtained for specific equipment groups in the substations. Yet, there are many other equipment groups, which can also have higher risk. This paper presents the hybrid solution to calculate the maximum risk of all the individual equipment on the substation primary side. It combines the power flow with contingency analysis done in PSSE and dedicated risk calculation logic developed in Python. In PSSE, load curtailment values are obtained in accordance with the contingency descriptions. These represent a part of the equipment failure consequences. The main risk calculation logic is in Python. It uses the power system data and contingency analysis results to combine them with individual substation equipment. It also includes inputs for failure probability, replacement times, replacement costs, load curtailment cost, and substation types. It is tested on the IEEE 39-bus power system. The results indicated the different impact on the equipment risk based on the changes in inputs. Based on that, it is possible to determine the parameters sensitivity to individual equipment and adjust the asset management decisions accordingly.