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In this paper, we formulate the economic dispatch problem as a two-stage stochastic convex program for operational decision making under uncertainty. Post-contingency minimum frequency constraints are formulated as convex sets using a simplified model of frequency dynamics. The L-shaped method is used to decompose the large stochastic program into smaller sub-problems. Large-scale system examples are provided to demonstrate the computational efficiency of the proposed model formulation. Numerical results show the value of the proposed model and indicate that the proposed model is especially useful under a higher level of wind penetration.
Date of Publication: Aug. 2013