Chance-Constrained Day-Ahead Scheduling in Stochastic Power System Operation
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- 16 January 2014
- journal article
- Published by Institute of Electrical and Electronics Engineers (IEEE) in IEEE Transactions on Power Systems
- Vol. 29 (4), 1583-1591
- https://doi.org/10.1109/tpwrs.2013.2296438
Abstract
This paper proposes a day-ahead stochastic scheduling model in electricity markets. The model considers hourly forecast errors of system loads and variable renewable sources as well as random outages of power system components. A chance-constrained stochastic programming formulation with economic and reliability metrics is presented for the day-ahead scheduling. Reserve requirements and line flow limits are formulated as chance constraints in which power system reliability requirements are to be satisfied with a presumed level of high probability. The chance-constrained stochastic programming formulation is converted into a linear deterministic problem and a decomposition-based method is utilized to solve the day-ahead scheduling problem. Numerical tests are performed and the results are analyzed for a modified 31-bus system and an IEEE 118-bus system. The results show the viability of the proposed formulation for the day-ahead stochastic scheduling. Comparative evaluations of the proposed chance-constrained method and the Monte Carlo simulation (MCS) method are presented in the paper.Keywords
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