Power system dispatch with wind power integrated using mean-variance model and group search optimizer

This paper presents the mean-variance (MV) model to solve power system dispatch problems with wind power integrated. In the MV model, the profit and the risk are taken into account simultaneously under the uncertain wind power (speed) environment. To describe this uncertain environment, the Monte Carlo (MC) simulation method is used to sample uncertain wind speeds. The optimization algorithm, group search optimizer (GSO), then optimize the MV model by introducing the risk tolerance parameter. The simulation is conducted based on the IEEE 30-bus power system, and the results demonstrate the applicability of the proposed model into power system dispatch problems with wind power integrated.