I. Introduction
With the increasing penetration of intermittent renewable energy, power systems encounter more and more uncertainty and variability. How to reliably and efficiently operate a power system in such an environment is still an unanswered challenging question [1], [2]. With the state-of-the-art wind forecasting methods, the hour-ahead forecast errors for a single wind plant are still around 10%–15% with respect to its actual outputs [3]. With much lower forecasting errors for load, the traditional power system operation is based on deterministic security-constrained commitment and dispatch processes [4], which tend to be conservative (using forecasts with a high probability of exceedance) when intermittent renewable generation is considered [2]. This conservative operation contributes somewhat to a large amount of wind curtailment [5], as secure operation cannot be guaranteed in real time when the actual wind power significantly exceeds the forecasts used in the scheduling and dispatching processes.