Value Evaluation of Wind Power Forecasting Information for Economic Dispatch
Bohong Wang, Qinglai Guo, Tianyu Yang, Bojian Wen
Abstract
With the application of big data technology, information emerges profound value. However, the unpredictability of information value blocks the circulation of information and seriously limits the potential of information to be converted into practical economic value. Thus, it is of great significance to accurately evaluate information value. In this paper, we propose an efficient method based on information value caused by uncertainty elimination. Considering economic dispatch as the background, wind turbines are added to the original problem and the optimization model is reconstructed under chance constraints. Besides, we regard the standard deviation of wind power forecast error as the targeted information and theoretically derive the reduction of the optimal generation costs of wind turbines caused by more accurate wind power forecasting information through eliminating the uncertainty, which is considered as information value for wind power plant. Finally, the feasibility and universality of analytical expressions of information value are demonstrated by case studies.