Massive deployment of information and communication infrastructure in operating, monitoring and control of electric power systems. This is Smart Grid. This is the vision of a controllable, observable and self-healing power system using smart grid technologies. Communication technologies like fiber hybrid and broadband over power line will enable the data and signal transfer from smart meters, automation and control sensing devices, high end system control centers interfaces in a highly visual environment, and intelligent electronic devices (IEDs). Sensing and measurement devices will be employed for which information data flow are aimed for facilitating wide-area control and protection (WACP) at the bulk power systems and dynamic control and automation at the distribution level, and other applications such as remedial action schemes, substation equipment monitoring and dynamic line rating.
Please see full article here - Framework for Reliability Evaluation of the Smart Grid.
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