Risk Management of Stochastic Power Generation Outages by Load Curtailment Program

The challenges of random generation outages are one of the major concerns in modern power systems. The unexpected power generation outages lead to a severe damage in one or more of the power components. This damage requires immediate scheduling of the available generation units to minimize the risks and increase the system security. This paper presents an optimization technique of load curtailment to be immediately applied in case of power generation outages. The optimization method involves a prompt response of the generation outages through predefined variables and constraints. The objective function of the proposed technique takes into account the power dispatch cost and the compensation cost, which will be paid directly to the end-user customers as a reward for their contribution of curtailing some of their loads. The amount of the power dispatch and the load curtailment are precisely evaluated using Mixed-Integer Linear Programming, where all the possible variables are tested before reaching a feasible solution. Example studies are presented to explore the performance of the load curtailment and to schedule all the energy sources during stochastic scenarios of the generation outages.