A new flexibility based probabilistic economic load dispatch solution incorporating wind power

Abstract

Nowadays, by the growing in renewable energies in the power system, the uncertainty of power output related to these resources increases. This needs to improve power system flexibility to reduce the risk of load shedding or renewable curtailment due to the mentioned challenge. So, nowadays power system flexibility is an important characteristic especially in power system operation which should be evaluated continuously and maintained in the desired value. In operation horizon time such as operational planning or real time operation the system generation flexibility should be monitored, and sufficient system flexibility should be provided to avoid unacceptable generation/load unbalance cause unwanted renewable curtailment or load shedding.This paper presents a new flexibility based risk limiting dynamic economic load dispatch solution incorporating wind power. In the proposed method the generation system flexibility index, introduced by the authors is converted to economic value and included in the total operation cost function. Then by the suitable economic trade-off between system flexibility level and risk of load shedding and wind power curtailment, the best reduction in these two unwanted risks are obtained. Increasing the system generation flexibility comes from the generation rearrangement of thermal generation units imposes more cost to the generation cost but is balanced by reduction in unwanted renewable curtailment or load shedding.