LAUSR

Integration of wind energy and other renewable energy resources in electrical systems create some challenges due to their uncertain and variable characteristics. In the quest for more flexibility of the electric systems, combination of these endogenous and renewable resources in accordance with strategies of Demand Response (DR) allows an increment/improvement of the demand potential, as well as a more secure, robust, sustainable and economically advantageous operation. This paper proposes a new model for integration of wind power and DR, thus optimizing supply and demand side operations through a price rule Time of Use (TOU), or incentive with Emergency DR Program (EDRP), as well as combining TOU and EDRP together. The problem is modelled using a stochastic Heuristic Multi-Objective Multi-Criteria Decision Making (HMM) method which aims to minimize operation costs and environmental emissions simultaneously, ensuring the security constraints through two-stage stochastic programming, considering various techno-economic indices such as load factor, electricity market prices, Energy Not Supplied (ENS) and Share Weighted Average Lerner Index (SWALI). Comprehensive numerical results indicate that the proposed model is entirely efficient in DR planning and power system operation.