Security-Constrained Multiperiod Economic Dispatch With Renewable Energy Utilizing Distributionally Robust Optimization

Abstract

This paper presents a security-constrained multiperiod economic dispatch model (M-SCED) for systems with renewable energy sources (RES). A two-stage framework is adopted to model initial operation plans and recourse actions before and after the uncertainty realization of RES power. For ensuring superior system economic efficiency, distributionally robust optimization (DRO) is utilized to evaluate the expectations of operation costs affected by RES uncertainty. Practical issues, including boundedness of uncertainty and inaccurate information, are considered in modeling uncertainty in DRO. Within the framework of DRO, robust optimization is integrated to enhance system security. Besides, decision variables after the first period in M-SCED are approximated by segregated linear decision rules to achieve computational tractability without substantially degrading the model accuracy. A Constraint Generation algorithm is proposed to solve this problem with comprehensive case studies illustrating the effectiveness of the proposed M-SCED.