Economic dispatch solution considering demand and wind speed uncertainties based on Newton's method

Abstract

The uncertainties of electricity demand and wind speed forecasting are uncertain parameters of economic dispatch problem. The Newton's method is used to solve the problem repeatedly by considering the uncertain parameters in either uniform or normal distribution forms. The mean value and variance of total operating costs are examined after assuming different levels of uncertainty. The impact of wind power penetration is also investigated. Numerical results have been tested with a small model. The results show that the mean value of the total operating costs is relatively constant, while the variance of the total operating costs varies with both the forecasting uncertainties and the wind penetration level.