Economic Dispatch Method with Chance Constraints for Power Systems Incorporating Pumped Storage, Wind Power Curtailment and Load Shedding

The paper presents an economic dispatch method with chance constraints for electricity systems, specifically tackling issues related to the unpredictable nature of wind energy generation. The primary goal of this proposed approach is to minimize wind curtailment and load shedding by taking into account the variability of wind power output and reserve shortages. By creating dispatch plans that incorporate pumped storage, the system can operate economically while reducing wind curtailment. Furthermore, a method for reconstructing chance constraints is introduced using conditional and overall risk values, along with dual theory. This approach transforms a bilinear problem into a mixed integer linear programming problem by employing a piecewise linear strategy. Numerical experiments confirm the practicality and efficiency of this method.