Abstract
Due to the fluctuation and intermittency of wind power, it is necessary for power systems to provide flexible power to ensure the power balance of supply and demand. Meanwhile, as the increasing installed capacity of wind power, more flexible power is required, and the amount would be significant and the balancing cost would be more expensive. In this paper, the balancing cost is calculated from the viewpoint of economic dispatch, which is the difference between the total power system costs with and without wind power. For the case without wind power, an energy proxy is proposed to replace it, which does not need other resources to balance. The result shows that the balancing cost is increasing with the increase of penetration and volatility of wind power.
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