OPTIMAL STOCHASTIC OPERATION PLANNING FOR LARGE SYSTEM WITH HIGH PENETRATION OF VARIABLE RENEWABLE ENERGY ADDRESSING SHORT-TERM CONSTRAINTS

Variable Renewable Energy (VRE) became a crucial energy source for energy transition with increasing shares in the power system. However, their high volatility poses significant challenges for expansion and operation activities requiring even more system flexibility. This work presents a typical day (TD) modeling for mid and long-term operation planning problems using Stochastic Dual Dynamic Programming (SDDP). We apply the proposed model to the Chilean system and, compared to the extended hourly model benchmark, the results are consistent with a significant reduction in computational time. We also show that improving the time resolution with the TD model in the policy calculation improves the simulation overall solution over the traditional policy calculated with the non-chronological load duration curve (LDC) model. This study highlights the effectiveness of the proposed methodology in addressing the challenges associated with increasing renewable energy penetration. It provides a more accurate representation of the system dynamics and enables efficient expansion and operation planning while capturing the essential flexibility requirements.