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60 Decision Making Applications in Modern Power Systems

formulation of the problem, generated power by renewable energy and load
demand are considered as the uncertain parameters, and the stochastic
scenario-based approach is used for solving the problem. The proposed
method was examined on the 33-bus microgrid test system. The result of
decision variables of the problem consists of the status of the storage and
dispatchable units and power output of dispatchable units, exchanged power
with the upstream network, and the monetary value that was studied for the
best scenario. Finally, the expected profit of reduced scenarios was calcu-
lated. The results show that by modeling the uncertainty in a lot of scenarios,
the operator of the system can decide with a better view, about the condi-
tions of the network. However, the high volume of computations in this
method requires an examination of the other methods that will be studied in
future works.

Acknowledgments
The work done by Alireza Soroudi is supported by a research grant from Science
Foundation Ireland (SFI) under the SFI Strategic Partnership Programme Grant No. SFI/
15/SPP/E3125. The opinions, findings, and conclusions or recommendations expressed in
this material are those of the author(s) and do not necessarily reflect the views of the
Science Foundation Ireland.

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