Probabilistic Optimal Active and Reactive Power Dispatch including Load and Wind Uncertainties considering Correlation

The increased integration of renewable energies (REs) raised the uncertainties of power systems and has changed the approach to dealing with power system challenges. Hence, the uncertain nature of all the power system variables needs to be considered while dealing with the optimal planning and operation of modern power systems. This paper presents a probabilistic optimal active and reactive power dispatch (POARPD) based on the point estimate method (PEM), considering the uncertainties associated with load variation and wind power generation. In the POARPD, the deterministic optimal active and reactive power dispatch (OARPD) is performed in two stages, which gives a deterministic two-stage OARPD (TSOARPD). The objectives of TSOARPD are the operating cost (OC) minimization in stage 1 and voltage stability (VS) maximization in stage 2, whereas the VS is improved by maximizing the system's reactive power reserve (RPR). In this paper, instead of using multiobjective optimal power flow, this TSOARPD is used to give more importance to VS when the system is substantially loaded. The POARPD problem is solved using PEM for modified IEEE-9 bus and standard IEEE-30 bus test systems by considering the correlation between the loads. The results are compared with Monte Carlo simulation (MCS). While solving POARPD, the voltage-dependent load model is used to account for the real-time voltage dependency of power system loads. This paper discusses the detailed procedure of solving POARPD by considering correlation and the increased nonlinearities by giving more importance to VS when the system is heavily loaded.