A generic method for analyzing the risks to energy systems

To address this shortcoming, this paper presents a method for analyzing the risks to the energy security of any entity in an energy system. The method, derived from work at the National Institute for Statistics and Technology (NIST), determines the risks to an entity using the well-known properties of events (rate-of-occurrence and expected stress) and entities (flows, time-to-recover, and stress-tolerance). The paper demonstrates how the method can be applied using both qualitative and quantitative data to measure, analyze, and potentially improve a system's energy security. Several examples are included.