Abstract
Uncertainties of renewable energy and load have become one of the major challenges for operation of power system. This paper studies a two-stage stochastic economic dispatch model considering uncertainties from both renewable energy and load. Dispatch decisions are separated into here-and-now and wait-and-see optimization variables where uncertainties of renewable energy and load are modelled as multiple scenarios. In two-stage stochastic dispatch, the second-stage decision rule is crucial for effective redispatch actions. We compare the affine decision rule with fully adaptive decision rule in stochastic dispatch model in this paper. Result of numerical tests shows that conservativeness of affine policy and the variability of renewable generation and load are positively correlated.
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