Risk-based contingency-constrained optimal power flow with adjustable uncertainty set of wind power

This paper proposes a risk-based contingency-constrained optimal power flow (OPF) model by leveraging the methods of both adjustable uncertainty set and distributionally robust optimization. In the proposed model, an adjustable uncertainty set of wind power is developed with network contingencies explicitly incorporated. Based on this uncertainty set, the proposed model is capable of securing the network against both wind power fluctuations and contingencies in a probabilistic manner with the optimal balance between operation cost and risk. Meanwhile, a data-driven L1-norm-based ambiguity set is employed so that the proposed model is distributionally robust to the ambiguous wind power distribution and applicable to cases where the exact wind distribution is not available. A decomposition-based algorithm is also derived so that the proposed model is solvable by off-the-shelf solvers. Numerical studies on IEEE 14- and 118-bus systems are conducted to verify the effectiveness of the proposed model.