Power system security refers to the probability that a power system will remain stable and within acceptable operating limits given potential disturbances or contingencies. There are three main operating states: preventive, emergency, and restorative. In the preventive state, the system operates normally and can withstand credible contingencies. The emergency state occurs when limits are violated, and the goal is to relieve stress. In the restorative state, parts of the system have lost power and the goal is to restore the system to normal. Security assessment involves system monitoring, contingency analysis to evaluate risks, and preventive and corrective actions. On-line security assessment continuously monitors the system using real-time measurements and updates assessments as conditions change.