Optimal dispatch in Smart Power Grids with partially known deviation

Power grid is an interconnected system of supplying electricity from the supplier to the consumer, consisting of electricity generating plant, high voltage transmission lines- to carry electricity from the generating plant to the load center, and distribution lines- to carry electricity from load centers to individual consumers. A lot of research is being pursued to develop technologies for improving the next generation of power grid called the Smart Power Grid. The Smart Power Grid will have sophisticated communication infrastructure to improve the efficiency of electricity generation using renewable energy sources like the sun, water, etc and also to inform consumers of their electricity usage pattern. Also, the electricity market is now divided into three sections- generation, transmission and distribution. Private companies are competing with each other to provide electricity at the most competitive market price. We have developed two algorithms to help generating companies achieve their goal of meeting the hourly electricity need of the consumers and to do so at a minimum total cost.