A Chance Constrained Optimal Reserve Scheduling Approach for Economic Dispatch Considering Wind Penetration

The volatile wind power generation brings a full spectrum of problems to power system operation and management, ranging from transient system frequency fluctuation to steady state supply and demand balancing issue. In this paper, a novel wind integrated power system day-ahead economic dispatch model, with the consideration of generation and reserve cost is modelled and investigated. The proposed problem is first formulated as a chance constrained stochastic nonlinear programming (CCSNLP), and then transformed into a deterministic nonlinear programming (NLP). To tackle this NLP problem, a three-stage framework consists of particle swarm optimization (PSO), sequential quadratic programming (SQP) and Monte Carlo simulation (MCS) is proposed. The PSO is employed to heuristically search the line power flow limits, which are used by the SQP as constraints to solve the NLP problem. Then the solution from SQP is verified on benchmark system by using MCS. Finally, the verified results are feedback to the PSO as fitness value to update the particles. Simulation study on IEEE 30-bus system with wind power penetration is carried out, and the results demonstrate that the proposed dispatch model could be effectively solved by the proposed three-stage approach.