Optimal trade-off between regulation and wind curtailment in the economic dispatch problem

Generator regulation and wind power curtailment are two conflicting ways to deal with the inaccurate prediction and volatility of wind power. This study focuses on planning the day-ahead schedule based on optimal trade-off between regulation of generators and wind curtailment. Compared to traditional economic dispatch methods, the proposed schedule is more robust and adaptive to multiple forecast scenarios instead of a single forecast scenario. The works of this paper are as follows: First, an economic dispatch problem based on multiple scenarios is formulated with the objective of minimizing both generator regulation and wind curtailment. Next, a forecast method for wind power scenarios is given. Finally, the proposed model is verified by comparing with other dispatch models that are based on single forecast scenario. The simulation results demonstrate the effectiveness of the proposed method with less wind curtailment, generator regulation, and operational cost. In addition, the penalty factors are set as parameters and the influences on the generators' regulation and wind curtailment are analyzed, providing the reference for system operators with different regulatory purposes.