Day-ahead Economic Dispatch of Power System Considering Renewable Power Uncertainty and Demand Response

Currently, the proportion of renewable power is increasing in power system in China. Different from the conventional power generators, it is needed to consider the uncertainty of renewable power in economic dispatch. A day-ahead economic dispatch method considering conventional power generators, renewable power producers and demand response of load aggregators is proposed by minimizing the social cost. The uncertainty of renewable power is modelled based on the truncated versatile distribution model, which could accurately represent the renewable power uncertainty and improve the algorithm efficiency by its analytical cumulative distribution function. Based on the alternating direction method of multipliers, the day-ahead economic dispatch model is solved in a distributed manner on the premise of ensuring the privacy of load aggregators. Results show that the proposed method can effectively consider the renewable power uncertainty, encouraging renewable power producers to improve their forecasting technology and reducing the social cost at the same time. The proposed algorithm based on the alternating direction method of multipliers has the characteristic of good convergence and can guarantee the high solving efficiency. © 2019 Automation of Electric Power Systems Press.