Stochastic optimal energy dispatch

This paper presents a useful algorithm to incorporate the effects of uncertain system parameters into optimal power dispatch. This method employs the multivariate Gram-Charlier series as means of modeling the probability density function (p.d.f.) which characterizes the uncertain parameters. The proposed method is a direct extension of existing techniques; therefore, minimal additional computation effort is necessary. Potential applications include the calculation of probabilistic parameters (eg., probability, expectation) relating to power dispatch. An example of such a parameter the probability of a bus voltage out of range during optimal dispatch. A practical example is pursued to demonstrate the usefulness of the method.