NDLI: Multi-objective generation dispatch considering the trade-off between economy and security

Content Provider	IET Digital Library
Author	Qiu, Jing Zhao, Junhua Wang, Dongxiao
Abstract	This study presents a multi-objective generation dispatch model based on security-constrained optimal power flow, in order to handle the contradictory economic and security objectives. In addition to the deterministic N−1 security criterion, a risk index is proposed to quantify the system security degree on a probabilistic basis. The risk index is defined as the summation of the products of the contingency probability and the associated severity function. Moreover, the cost of interruptible load is added into the generation cost, formulating the economic objective. In the meantime, wind power outputs and load variations are considered as uncertainties in the dispatch process. Furthermore, a multi-objective evolutionary algorithm is employed and developed to provide a set of trade-off solutions. The proposed approach is verified by the 4-bus and IEEE 24-bus systems. Numerical results show that the proposed approach can effectively investigate the impacts of demand response on system economy and security. The obtained Pareto optimal solutions are less likely to incur insecurity risk and are robust to the studied stochastic variations.
Starting Page	633
Ending Page	642
Page Count	10
ISSN	17518687
Volume Number	12
e-ISSN	17518695
Issue Number	Issue 3, Feb (2018)
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/iet-gtd/12/3
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/10.1049/iet-gtd.2017.0337
Journal	IET Generation, Transmission & Distribution
Publisher Date	2017-09-22
Access Restriction	Open
Rights Holder	© The Institution of Engineering and Technology
Subject Keyword	Deterministic N−1 Security Criterion IEEE 24-bus System Load Dispatching Load Flow Multiobjective Evolutionary Algorithm Multiobjective Generation Dispatch Power System Economics Power System Managemen Power System Operation Power System Protection Power System Security Power Transmission, Distribution And Supply Risk Index Security Objectives Security-constrained Optimal Power Flow Stochastic Variations
Content Type	Text
Resource Type	Article
Subject	Control and Systems Engineering Energy Engineering and Power Technology Electrical and Electronic Engineering

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