aDVANCES in communication and information tech- nology have always been exploited by the utility industry
for improving efficiency, reliability, security and quality of service. Increasing complexity in managing the bulk power grid, growing concerns for environment, energy sustainability and independence, demand growth, and quest for service quality continue to accentuate the need for a quantum leap in application of such technologies. This leap toward a “smarter” grid is widely referred to as “smart grid.”
Smart grid is envisioned to take advantage of all available modern technologies in transforming the current grid to one that functions more intelligently to facilitate:
• better situational awareness and operator assistance;
• autonomous control actions to enhance reliability by in- creasing resiliency against component failures and natural disasters, and by minimizing frequency and magnitude of power outages subject to regulatory policies, operating re- quirements, equipment limitations, and customer prefer- ences;
• efficiency enhancement by maximizing asset utilization;