Real-Time Economic Dispatch by Accommodating Implications of Uncertain Renewable Energy Resources

Abstract

The integration of considerable renewable energy resources in power grids has imposed high variability in the net load demand to be seen by conventional generating stations. The real-time economic dispatch (RTED) of modern power systems must consider minute-to-minute variability in the net load demand on the station during a scheduling interval of 5-15 min. The existing methods therefore may not explicitly handle economic implications of power system. This paper proposes a new method for RTED while fully addressing variability in power generation from renewable energy resources and load demand. The method suggests mean PFs for committed generators by conducting (off-line) economic dispatch for each subinterval of 1 min. Mean PFs are evaluated only once, that is just at the beginning of scheduling interval and will continued throughout the interval. This reduces complexity and dimensionality of the proposed method. The simulation results on a standard test bench validate economic competence of proposed approach over that conventional one.