Abstract
This paper presents a quantitative framework for assessment of voltage stability in smart power networks. First, new stability indices similar to gain and phase margins in linear time invariant control systems are introduced. These indices can be computed online in conjunction with load-flow calculations. Then, a novel risk assessment framework incorporating the new stability indices is developed to methodologically quantify the voltage stability risks a power system faces at any given operating condition. In contrast to existing local stability indices and qualitative risk approaches, the indices and framework introduced provide analytical and quantitative evaluation of voltage stability and associated risks. The results are illustrated with a numerical example.
