TY - JOUR
T1 - Reliability-Constrained Economic Dispatch with Analytical Formulation of Operational Risk Evaluation
AU - Pan, Congcong
AU - Hu, Bo
AU - Shao, Changzheng
AU - Xu, Longxun
AU - Xie, Kaigui
AU - Wang, Yu
AU - Anvari-Moghaddam, Amjad
PY - 2024/3/1
Y1 - 2024/3/1
N2 - Operational reliability and the decision-making process of economic dispatch (ED) are closely related and important for power system operation. Consideration of reliability indices and reliability constraints together in the operation problem is very challenging due to the problem size and tight reliability constraints. In this article, a comprehensive reliability-constrained economic dispatch model with analytical formulation of operational risk evaluation (RCED-AF) is proposed to tackle the operational risk problem of power systems. An operational reliability evaluation model considering the ED decision is designed to accurately assess the system behavior. A computation scheme is also developed to achieve efficient update of risk indices for each ED decision by approximating the reliability evaluation procedure with an analytical polynomial function. The RCED-AF model can be constructed with decision-dependent reliability constraints expressed by the sparse polynomial chaos expansion. Case studies demonstrate that the proposed RCED-AF model is effective and accurate in the optimization of the reliability and the cost for day-ahead economic dispatch.
AB - Operational reliability and the decision-making process of economic dispatch (ED) are closely related and important for power system operation. Consideration of reliability indices and reliability constraints together in the operation problem is very challenging due to the problem size and tight reliability constraints. In this article, a comprehensive reliability-constrained economic dispatch model with analytical formulation of operational risk evaluation (RCED-AF) is proposed to tackle the operational risk problem of power systems. An operational reliability evaluation model considering the ED decision is designed to accurately assess the system behavior. A computation scheme is also developed to achieve efficient update of risk indices for each ED decision by approximating the reliability evaluation procedure with an analytical polynomial function. The RCED-AF model can be constructed with decision-dependent reliability constraints expressed by the sparse polynomial chaos expansion. Case studies demonstrate that the proposed RCED-AF model is effective and accurate in the optimization of the reliability and the cost for day-ahead economic dispatch.
KW - Contingency management
KW - Power system
KW - Uncertainty
KW - Wind power generation
KW - analytical formulation
KW - operational reliability
KW - polynomial chaos expansion
KW - reliability-constrained economic dispatch
UR - http://www.scopus.com/inward/record.url?scp=85181570377&partnerID=8YFLogxK
U2 - 10.1109/TPWRS.2023.3317973
DO - 10.1109/TPWRS.2023.3317973
M3 - Journal article
SN - 0885-8950
VL - 39
SP - 4422
EP - 4436
JO - I E E E Transactions on Power Systems
JF - I E E E Transactions on Power Systems
IS - 2
ER -