Electricity price driven active distribution network planning considering uncertain wind power and electricity price

Abstract

This paper introduces a new computational framework to account for uncertainties in active distribution network (ADN) planning in the presence of wind power, energy storage and electricity price. A key challenge when dealing with wind power and electricity price is the inaccuracy of forecasting methods because of the uncertainty of distributed power such as wind power, and the different demand response providers. We propose a risk aversion planning model for ADN with respect to uncertainties of wind power and electricity price. The proposed model needs neither sampling different scenario nor to calculate multi-objective while guaranteeing a quantifiable risk level by a conditional expectation. Then, an electricity price driven ADN planning has been discussed, and the problem of selecting custom electricity contracts and finding the optimal procurement strategy of meeting contract obligations under spot price uncertainty is considered. Finally, simulation studies are carried out for several IEEE test systems to validate the effectiveness of the proposed model in obtaining the optimal trade-off solution between profit and risk.