Stochastic generation scheduling with variable renewable generation: methods, applications, and future trends

One of the most intricate optimisation problems in power systems is generation scheduling. It determines the schedule and dispatch of electrical power generation to meet the load demand under various technical and operating constraints. Generation scheduling is a vivid problem, particularly in recent years, due to the aggressive integration of renewable energy, with stochastic nature, into power grids. As the literature size has swollen substantially in the past several years, this study critically looks into uncertainty modelling and the formulation of various techniques that were implemented in stochastic optimisation-based generation scheduling. The strengths and weaknesses of existing methods are fully exposed. Market operation policies that significantly affect the scheduling of renewable energy generation in different timescales are elaborated. Potential applications and future trends in terms of modelling, computational performance, and incorporation of flexibility and resilience notions are thoroughly discussed.