Secure and economic management of a power system in the presence of wind generation

Nowadays, large-scale integration of wind power is a challenge in terms of the minimization of the insecurity risk, that is, of the expected cost associated with the expected load not served. In fact, when there is an elevated proportion of wind power, the electrical power quality in the sense of continuity of supply may be low, since energy from wind power cannot be dispatched in the classical sense and its output varies as weather conditions change. However, continuity of supply may also be undermined by other uncertain factors, such as the occurrence of random events like line outages, generator failures or sudden demand variations. Assuming the insecurity risk as a part of the overall expected cost for a secure management of a deregulated power system, this paper proposes a DC formulation of an AC Economically correct Secure Economic Dispatch (EcSED), modified also for the introduction of uncertain Wind Power Generation (WPG) sources. Finally, simulations were carried out in order to investigate how the above overall expected cost changes, as a function of varying penetration levels and varying installation locations of a WPG plant.