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To effectively guarantee a secure and stable operation of a smart substation, it is essential to develop a relay protection system considering the real-time online operation state evaluation and the risk assessment of that substation. In this paper, based on action data, defect data, and network message information of the system protection device (PD), a Markov model-based operation state evaluation method is firstly proposed for each device in the relay protection system (RPS). Then, the riskdoi:10.3390/en13071777 fatcat:rxc3cjaisrc6nlhhohnef42tea