IGDT-based Robust Economic Dispatch Problem with Wind Power Integration

Economic dispatch (ED) is crucial for efficiently operating a power grid. Critical grid operations are impacted by the uncertainty of renewable sources, which poses operational challenges for grid operations. Therefore, this study proposes an economic dispatch model that accounts for the uncertainty of renewable generation. The framework models and incorporates uncertainty into the ED formulation using the Information Gap Decision Theory (IGDT). To this end, a multiobjective risk-averse IGDT model is developed, enabling the operator to evaluate uncertainty-associated risks. Subsequently, the IGDT model is validated by employing a modified IEEE 24-bus test system with multiple wind generators. It is observed that the IGDT proposal achieves operational cost savings and adequately integrates renewable energy generation. The numerical results indicate that the proposed IGDT framework can help operators make decisions based on achieving a target cost for a given level of uncertainty.