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Wind power is a valuable renewable source of electrical energy. Due to its stochastic nature, wind power is usually considered as an energy source rather than as a power contributor to the system generating capacity. Worldwide installation of wind power is expected to continue to grow in the coming years. It is therefore necessary to recognize the operating capacity value of the added wind power. This paper presents an approach to predicting short term wind speed distributions that can be used in a probabilistic analysis of the unit commitment risk. The development of performance indices such as the Peak Load Carrying Capability (PLCC) and the PLCC benefit ratio in wind integrated power systems is demonstrated using two published test systems.