| Summary: | This paper analyzes the notion of resilience in power systems from a fundamental viewpoint and thoroughly examines its practical implications. This paper aims to describe and classify different high-impact rare (HR) events, provide a more technical definition of power system resilience, and discuss linkages between resilience and other well-established concepts, such as security and reliability. Most relevant decisions of system operators in the face of HR events involve a significant level of stress and strain. In order to make informed decisions within this context, it is crucial to have an all-inclusive picture of the state of the system. This paper provides an appropriate framework that not only characterizes the various states of the system but also derives informed decisions from a resilience-oriented perspective. It also describes and analyzes diverse resilience improvement strategies. Comprehensive models and classifications are provided to clearly capture various aspects of power system resilience.
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