Abstract: With the integration of a large proportion of renewable energy into the distribution network,the power flow turns bidirectional, and the interconnection between the transmission and distribution networks increases while the decentralized and independent power dispatch affects the reliable and stable operation of the grid. This paper presents a study on the two-stage risk dispatch for transmission and distribution networks that have a high proportion of distributed energy access to meet the rising demand for coupling between the two types of networks. Firstly,with the goal of minimizing operating costs, a day-ahead economic dispatch model considering different operational risks of the transmission and distribution grid is constructed, and under risk limit constraints, multiple adjustable resources from the system source, network, load, and storage are synergistically optimized;Secondly,an intraday risk scheduling model is constructed with the objective function of minimizing the comprehensive risk value, and the values of the three operational risk indicators are calculated and adjustments made to the output plan of the adjustable resources accordingly.Finally,the proposed two-stage risk scheduling model is solved using an enhanced particle swarm algorithm to verify its effectiveness and superiority,and it is proved that the model can enable interaction and coordination between transmission and distribution networks,synergistically optimize operating costs and risks,thus verifying the effectiveness and superiority of the proposed model.