Solution quality analysis on predictive economic dispatch with time

As an important AGC function, Economic Dispatch (ED) dispatches generating units based on real-time snapshot conditions in the most economical manner, Predictive Economic Dispatch with Time (PED) issues dispatch instructions to move generating units to meet the current and future net load demands based on “predicted” conditions. The effectiveness of the dispatch instructions is entirely determined by the accuracy of the “predicted” conditions, which in turn largely depend on two things in the smart grid environment: the accuracy of projected load over the dispatch horizon; and the accuracy of the projected renewable generation. This paper proposes to make use of perturbation analysis on the solution obtained and makes recommendations as to how to best utilize the capability of PED to produce the dispatch instructions that consider economics, forecast inaccuracies, and practical usefulness.