Stochastic Optimization Based Economic Dispatch and Interruptible Load Management

Abstract

AbstractIn this chapter, stochastic optimization of economic dispatch (ED) and interruptible load management is investigated using short-term distributional forecast of wind farm generation using the proposed short-term distributional forecast of wind farm generation. Based on the distributional forecast model, the joint optimization of ED and interruptible load management is cast as a stochastic optimization problem. Additionally, a robust ED is formulated using an uncertainty set constructed based on the proposed distributional forecast, aiming to minimize the system cost for worst cases. The proposed stochastic ED is compared with three other ED schemes, namely the robust ED, the deterministic ED using the persistence wind generation forecast model, and the genie-aided ED with perfect wind generation forecasts.KeywordsWind PowerForecast ErrorWind FarmWind GenerationIndependent System OperatorThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.