Comparison of all-side risk and down-side risk constrained probabilistic dispatch models considering wind power

Abstract

This paper, for the first time, compares the probabilistic optimal power flow (POPF) models targetingdifferent objectives -- minimizing the expected generation cost (EGC) and all-side risk (AR) or down side risk (DR)simultaneously. In the POPF models, wind power generation isconsidered in dispatching, the uncertainty of which can be explained by building a model to describe the stochasticcharacteristic of the forecast error. The distribution of the forecast error can be obtained by sampling from the historical error time series. The POPFsaresolvedusinggroup search optimizer with multiple producers (GSOMP), and a decision-making method TOPSIS is used to select the most suitablesolution. Simulation studies are conducted on a modified IEEE 118-bus power system with wind farms integrated, and the results show that the EGC-DR modelfind better solution compared tothe EGC-AR model.