A semi-analytical method to solve chance constrained stochastic economic dispatch with demand response providers

Abstract

This paper addresses a computational issue of solving stochastic economic dispatch with the participation of uncertain demand response providers. In particular, we study the linear constraints in the chance constrained formulation of the dispatch problem. A semi-analytical method is proposed to simplify the formulation and computation of chance constraints in the economic dispatch problem. Compared with existing methods such as deterministic, analytical method and sample-based approaches, the advantage of the semi-analytical method lies in its lower computational cost, controllable level of risk and low information exchange between agents and the independent system operator. Numerical results on the IEEE 14 bus system with two demand response providers illustrate the potential efficacy of the proposed method.