This paper introduces the concept of risk applied to light flicker. It offers a novel stochastic assessment of the risk of light flicker produced by voltage fluctuations from devices in a household. The paper has contributed with stochastic models of voltage fluctuations patterns from several household devices. The voltage fluctuations severity has been determined based on the perception of light flicker from a generalized LED lamp using an index defined as severity factor, what is a novel assessment in contrast to the incandescent lamp considered in the IEC 61000-4-15 standard. The severity factor can be equal to 1, 2 or 3 in increasing order of severity. Each of the severity factors indicates a probability of light flicker equal to or over the perception threshold in a generalized LED lamp and, therefore, a probability of light flicker perceived by an average observer. The severity factor is later used to obtain the risk of light flicker by calculating an index defined as the probabilistic number of voltage fluctuations in a 10-minute interval producing light flicker equal to or over the perception threshold (š = 1) in a generalized LED lamp. A š value is obtained from the risk of light flicker index calculated. The results show a low risk of annoying light flicker due to voltage fluctuations from devices in a household for an average observer.INDEX TERMS Household, LED lamps, light flicker, risk, voltage fluctuations.