The problem of multi-area interchange scheduling under system uncertainty is considered. A new scheduling technique is proposed for a multi-proxy bus system based on stochastic optimization that captures uncertainty in renewable generation and stochastic load. In particular, the proposed algorithm iteratively optimizes the interface flows using a multidimensional demand and supply functions. Optimality and convergence are guaranteed for both synchronous and asynchronous scheduling under nominal assumptions.
The problem of inter-regional interchange scheduling in the presence of stochastic generation and load is considered. An interchange scheduling technique based on a two-stage stochastic minimization of expected operating cost is proposed. Because directly solving the stochastic optimization is intractable, an equivalent problem that maximizes the expected social welfare is formulated. The proposed technique leverages the operator's capability of forecasting locational marginal prices and obtains the optimal interchange schedule without iterations among operators. Several extensions of the proposed technique are also discussed.