Stochastic environmental and economic dispatch of power systems with virtual power plant in energy and reserve markets

Abstract

In order to alleviate the effects of greenhouse gas emissions, the environmental and economic dispatch (EED) is formulated as multiobjective optimization problem (MOP) solved by multiobjective immune algorithm (MOIA). Building on this model, the virtual power plant (VPP) is proposed involving distributed generation (DG), interruptible load (IL), and energy storage (ES) to participate in joint energy and reserve markets. The uncertainties of load prediction, DG, and IL are treated as an interval-based optimization in this study. The static and real-time simulations are conducted to demonstrate the validity of proposed stochastic EED model through the IEEE 30-bus test system.