Risk analysis and management in power outage and restoration: A literature survey

•We review power out risk, restoration planning, and opportunities for risk reduction.•Many studies trade-off between breadth and a more detailed treatment of constraints.•Integrated studies should include risk analysis into restoration planning decisions.

Societies are highly reliant on power systems for their energy needs. Reliability assessment is performed in both planning and operation of these power systems. Although there has been increasing interest in hardening the power system to be resilient against power outages, the risk of power outages cannot be completely diminished. Numerous models and algorithms are available to predict hazards that subsequently result in loss of energy services to customers. Many quantitative and qualitative approaches to determining restoration strategies in the event of a power outage have been developed. Very few studies have assessed restoration strategies in response to the risk of predicted hazards. As a result of the hurricanes and storms that have damaged critical infrastructures in the U.S. in recent years, this has become a burgeoning area for active research. In this literature survey we present the various studies that have been completed to date and discuss potential areas for future research.