Flexible Look-Ahead Dispatch Realized by Robust Optimization Considering CVaR of Wind Power

Abstract

In this study, a novel approach for look-ahead dispatch (LAD) considering large-scale wind power integration is proposed. An index designated the conditional value-at-risk of wind power (CVaR-WP) is introduced to evaluate the risk of wind power accommodation. A flexible LAD model is developed to balance the operational costs and the CVaR-WP based on robust optimization (RO). According to the proposed model, the base points, participation factors, and flexible capacity of automatic generation control units are co-optimized. In addition, a reasonable admissible region of wind power on each node can be obtained correspondingly. An efficient algorithm based on the big-M method and the decomposition method is presented to solve the resulting bilinear programing model. The proposed approach combines the advantages of RO and stochastic programing, which can avoid the overconservativeness of RO while maintaining its high computing efficiency. Test results illustrate the effectiveness and efficiency of the proposed approach.