The power industry is currently in the process of re-inventing itself. The unbundling of the traditional monopolistic structure that gave birth to a deregulated electricity market, the mass tendency towards a greener use of energy, the new emphasis on distributed generation and alternative renewable resources, and new emerging technologies have revolutionized the century old industry.Recent blackouts offer testimonies of the crucial role played by protection relays in a reliable power system. It is argued that embracing the paradigm shift of adaptive protection is a fundamental step towards a reliable power grid. The adaptive philosophy of protection systems acknowledges that relays may change their characteristics in order to tailor their operation to prevailing system conditions. The purpose of this dissertation is to present methodology to implement a security/dependability adaptive protection scheme. It is argued that the likelihood of hidden failures and potential cascading events can be significantly reduced by adjusting the security/dependability balance of protection systems to better suit prevailing system conditions.
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