A Practical Robust Dispatch Algorithm for a Smarter Power Grid

The uncertainty of generation required to maintain system balancing has been growing significantly due to the penetration of renewable energy resources such as wind power and the impact of demand response. To deal with such uncertainty, RTO´s require not only more accurate demand forecasting for longer-term prediction beyond real-time, but also demand forecasting with confidence intervals. In this paper a new robust dispatch algorithm is proposed to address multiple demand forecast scenarios of different probabilistic uncertainties.