Multi-Area Reserve Dimensioning Using Chance-Constrained Optimization.

We propose a chance-constrained formulation for the problem of dimensioning frequency restoration reserves on a power transmission network. We cast our problem as a two-stage stochastic mixed integer linear program, and propose a heuristic algorithm for solving the problem. Our model accounts for the simultaneous sizing of both upward and downward reserves, and uncertainty driven by imbalances, contingencies and available transmission capacity. Our core methodology is further adapted in order to minimize inter-zonal flows and in order to split reserve requirements between automatic and manual frequency restoration reserves. We apply our methodology to the problem of sizing reserves in the four load frequency control areas of the Swedish power system. We demonstrate the benefits of our method in terms of decreasing reserve requirements in the absence of reserve sharing, we analyze the spatial allocation of reserves, and we perform various sensitivity analyses. [ABSTRACT FROM AUTHOR]