Joint Chance-Constrained Economic Dispatch Involving Joint Optimization of Frequency-Related Inverter Control and Regulation Reserve Allocation

The issues of uncertainty and frequency security become significantly serious in power systems with the high penetration of volatile inverter-based renewables (IBRs), which makes it necessary to consider the uncertainty and frequency-related constraints in the economic dispatch (ED) programs. However, existing ED studies rarely proactively optimize the control parameters of inverter-based resources related to fast regulation (e.g., virtual inertia and droop coefficients) in co-operation with other dispatchable resources to improve the system frequency security and dispatch reliability. This paper proposes a joint chance-constrained economic dispatch model that jointly optimizes the frequency-related inverter control, the system up/down reserves, and base-point power for the minimal total operational cost. In the proposed model, multiple dispatchable resources, including thermal units, dispatchable IBRs, and energy storage, are considered, and the (virtual) inertias, the regulation reserve allocations, and base-point power are coordinated. To ensure the system reliability, the joint chance-constraint formulation is also adopted. Additionally, since the traditional sample average approximation (SAA) method imposes a huge computational burden, a novel mix-SAA (MSAA) method is proposed to transform the original intractable model into a linear model that can be efficiently solved via commercial solvers. The case studies validate the satisfactory efficacy of the proposed ED model and demonstrate that the MSAA can save nearly 90% calculation time compared with the traditional SAA.