Day-Ahead Economic Dispatch Based on CVaR Under Extreme Weather Conditions

This paper addresses the operational challenges of power systems under extreme weather conditions and proposes a day-ahead economic dispatch model for generation, grid, load, and storage based on Conditional Value at Risk (CVaR). The impact of extreme weather events on power systems is becoming increasingly significant, making it a critical issue in the field of power dispatch to maximize economic benefits while ensuring the safe operation of the system. In response to extreme weather, the proposed model evaluates the risks of load shedding and wind and solar curtailment in the power system and incorporates the CVaR method to handle uncertainties, thereby optimizing the dispatch plan of the power system. The research results show that the model can effectively reduce the operational risks of the system under extreme weather conditions and enhance the system’s economic efficiency and reliability. Through simulation tests and actual case analyses, the paper verifies the effectiveness and applicability of the proposed model, demonstrating its significant advantages in addressing the challenges of extreme weather.