RelyPES

The reliable uptake of modern power systems requires robust assessment of overall system risk to ensure secure and adequate electricity supply. This proof-of-concept project advances a software tool for fast, accurate risk assessment and risk-informed management of electric networks, with the long-term vision of developing it into a digital twin for power systems. Designed for utilities, energy companies, and industrial stakeholders, the tool will support both system design and operational optimization. Its core innovation is a novel methodology for risk modeling across four hierarchical levels, enabling a comprehensive and scalable understanding of system performance and vulnerability. By supporting more reliable design and operation of power systems, the project has the potential to improve energy adequacy by up to 15% and reduce operational costs by up to 20%.