Multi-period stochastic security-constrained OPF considering the uncertainty sources of wind power, load demand and equipment unavailability

The uncertainty sources of the intermittent generation and load demand as well as transmission line unavailability threaten the security of power systems. In this paper, to treat these uncertainties, a new stochastic optimal power flow considering the security constraints is proposed. A scenario generation method is also presented to model the uncertainties of wind generations and load demands considering their correlations. In the proposed model, the uncertainties are coped with through combination of optimal here-and-now and wait-and-see decisions. The effectiveness of the proposed model is shown on the well-known IEEE 24-bus test system. Higher effectiveness of the proposed model compared with four deterministic methods and one other stochastic method to determine procured reserve and 'after-the-fact' conditions is numerically illustrated. Additionally, the impact of the number of scenarios on the performance of the proposed model is evaluated by means of a sensitivity analysis. It has also been shown that the scenarios generated considering correlations have more smooth variations and can more effectively capture the uncertain behavior of load.