Abstract
This paper brings new insight to the resilience analysis, by comparing
the outage probability risk of extreme windstorms in Europe (relatively
rare events) and ”average” common failures of the power system,
typically part of the reliability domain. The outcome of this work
demonstrates that high-impact, low-frequency (HILF) events can actually
result in higher outage probabilities than ”average” common faults,
even when the frequency of their occurrence is significantly low. The
presented methodology, relevant to a single node of the grid, can be
easily scaled to larger and complex grids.