Look-Ahead Economic Dispatch With Adjustable Confidence Interval Based on a Truncated Versatile Distribution Model for Wind Power

Wind power representation is an integral part of stochastic economic dispatch (ED). Compared with the deterministic approach, stochastic ED allocates system reserves more effectively. This improved reserve strategy heavily relies on the wind power distribution boundary area that is not consistent with classical unbounded distribution models. To address this issue, this paper proposes a new probabi...