Stochastic Preventive Security-Constrained Economic Dispatch

In electrical power systems, the natural load randomness requires modeling the uncertainty adequately for determining optimal operation decisions. Besides security system actions and reserve management, stochastic approaches to solve operation problems have been widely considered as an approximation for mitigating demand fluctuations and renewable energy variability. This study proposes a scenario-based Stochastic Preventive Security-Constrained Economic Dispatch formulation using power transfer distribution factors to model the transmission network considering Nk line outages and transmission losses. Extensive computational simulations have conducted with different electrical power systems to demonstrate improvements in the power system operation obtained by the proposed stochastic formulation.