Two-stage stochastic approach for spinning reserve allocation in dynamic economic dispatch

A novel approach was proposed to allocate spinning reserve for dynamic economic dispatch. The proposed approach set up a two-stage stochastic programming model to allocate reserve. The model was solved using a decomposed algorithm based on Benders’ decomposition. The model and the algorithm were applied to a simple 3-node system and an actual 445-node system for verification, respectively. Test results show that the model can save 84.5 US $ cost for the testing three-node system, and the algorithm can solve the model for 445-node system within 5 min. The test results also illustrate that the proposed approach is efficient and suitable for large system calculation.

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