TY - GEN
T1 - Economic Dispatch Problem based on Risk-Seeking IGDT approach
AU - Tinitana, Julio Cuenca
AU - Correa-Florez, Carlos
AU - Patino, Diego
AU - Vuelvas, José
AU - Aleaga, Leonel
AU - Carrión, Jorge
N1 - Publisher Copyright:
© 2023 IEEE.
PY - 2023
Y1 - 2023
N2 - Integration of renewable generation is a present operational challenge for power systems. Essential grid operations, such as economic power dispatch (ED), are affected by the uncertainty of renewable sources. Therefore, this study proposes an economic dispatch model considering renewable generation uncertainty. The model considers the Information Gap Decision Theory (IGDT) framework to incorporate uncertainty into the ED formulation. For this purpose, a multiobjective risk-seeking IGDT model is developed, allowing the operator to assess uncertainty-associated risks. The IGDT model is subsequently validated using a modified IEEE 24-bus test system. It is observed that the IGDT proposal achieves operational savings and integrates renewable generation adequately. Finally, the numerical results indicate that the proposed IGDT framework can assist operators in making decisions based on achieving a target cost for a given level of uncertainty.
AB - Integration of renewable generation is a present operational challenge for power systems. Essential grid operations, such as economic power dispatch (ED), are affected by the uncertainty of renewable sources. Therefore, this study proposes an economic dispatch model considering renewable generation uncertainty. The model considers the Information Gap Decision Theory (IGDT) framework to incorporate uncertainty into the ED formulation. For this purpose, a multiobjective risk-seeking IGDT model is developed, allowing the operator to assess uncertainty-associated risks. The IGDT model is subsequently validated using a modified IEEE 24-bus test system. It is observed that the IGDT proposal achieves operational savings and integrates renewable generation adequately. Finally, the numerical results indicate that the proposed IGDT framework can assist operators in making decisions based on achieving a target cost for a given level of uncertainty.
KW - economic dispatch
KW - renewable generation
KW - renewable integration
KW - risk-seeking
KW - uncertainty
UR - http://www.scopus.com/inward/record.url?scp=85174069173&partnerID=8YFLogxK
U2 - 10.1109/ICECCME57830.2023.10252591
DO - 10.1109/ICECCME57830.2023.10252591
M3 - Conference contribution
AN - SCOPUS:85174069173
T3 - International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023
BT - International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 2023 International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023
Y2 - 19 July 2023 through 21 July 2023
ER -
