Power industry has undergone significant change in the last two decades due to the introduction of new technological advancements, environmental drivers and changing weather patterns, changing customer needs, regulatory requirements, natural disasters and the possibility of cyber and physical attacks by terrorists. The planning, operation and control of electrical power and energy industry of future will be significantly different than it is today. There is also a major motivation for conserving natural resources, utilization of renewable energy sources, reduction in AT & C losses, reduction in carbon footprint, slashing peak demand by converting the existing grid into a smart grid. The deployment of microgrids could be an important aspect in
preventing wide-area blackouts. In this paper efforts have been made to include the recent technological developments about power and energy system particularly with reference to Indian National Grid.
Today for the growth of any nation energy is the most important commodity in the world. Out of all forms of energy electric energy is the most convenient form of energy as it can be converted into any other form very conveniently and efficiently. There are challenging problems associated with the power industry in the design of future power systems and in the modernization of existing ones to deliver quality power in a safe, clean and economical manner with a high degree of reliability.