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Going back and taking a quick glance at the history of developed countries prove that prosperity of any society is tightly intertwined with resiliency and sustainability of its preliminary infrastructures. Surely, in modern societies, electricity is among the most important infrastructures whose resiliency and sustainability are a key driving force toward development of the society. This is veri ed by the fact that since the industrial revolution, per capita electricity consumption has been taken as a key index showing the level of economic development and standard of living in a country. This paper focuses on the concept of resiliency and sustainability of electric power systems. The paper, initially, introduces the concept and evaluation procedure of power systems resiliency. Then, it strives to introduce the most challenging issues faced by resilient and sustainable power grids. The challenging issues are electricity load growth, energy crisis, environmental emissions and climate changes, unexpected events, aging infrastructures, and cyber challenges. Then, the most e ective solutions proposed by power industry scientists and engineers are discussed. The solutions are asset management, renewable energy resources, demand response, controlled islanding and micro-grids, automation, selfhealing, and monitoring systems. Finally, a typical sustainable and resilient power system is described.

The rapid deployment of district heating systems in local energy markets and increasing the number of small‐scale heat producers along with the expansion of local electricity markets increase the need for a transaction framework to manage the transactions between local participants in both heat and electricity markets. This paper presents a peer‐to‐peer thermal energy transaction framework to manage the transactions between small‐scale heat prosumers. This framework enables small‐scale thermal energy producers and consumers to participate in the market as price maker agents. Moreover, the optimal strategy of heat market participants is determined by proposing a linear profit function for each agent. This optimization problem enables the agents to determine their optimal participation strategy in electricity and heat markets by addressing the interdependencies of electricity market, gas price, and heat market. The numerical results successfully demonstrate the benefits and applicability of the proposed framework.