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This paper proposes a risk-based approach for multi-period reconfiguration that considers hosting capacity in distribution networks in the presence of load and generation uncertainty. The proposed approach employs interval RDM (Relative Distance Measure) arithmetic to describe the uncertainty of loads and generation from renewable generators (DGs), considering the correlation between loads and between loads and DGs. An interval RDM arithmetic-based multi-objective mixed-integer linear programming model is then employed to obtain a set of noninferior solutions (reconfiguration plans) in each period. It considers hosting capacity along with the cost of losses, cost of interruptions, and switching cost. The obtained plans are used within the proposed interval-valued dynamic programming framework to identify and evaluate a set of multi-period reconfiguration plans. The multi-period plan that minimizes the risk of significant financial losses is selected by employing the Hurwicz criterion for measuring risk. © 1969-2012 IEEE.