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This paper presents a variety of different Security Constrained Optimal Power Flow formulations addressing four power system operation and planning problems: (a) forecast uncertainty of Renewable Energy Sources (RES) in-feed and load, (b) security criteria based on contingency risk, (c) corrective control offered through High Voltage Direct Current (HVDC) lines and flexible demand, (d) operation of multi-area systems with limited data exchange. A comprehensive probabilistic Security Constrained Optimal Power Flow (SCOPF) framework based on scenario-based methodologies is presented. This approach provides a-priori guarantees regarding the probability of the constraint satisfaction. In this paper, we show how HVDC lines, flexible demand, and novel risk-based operational paradigms can be used to handle outage uncertainty and the fluctuating in-feed from RES. Our analysis is extended by introducing a distributed probabilistic SCOPF algorithm for multi-area systems involving different levels of data exchange. The applicability of the methods is demonstrated on the threearea Reliability Test System (RTS-96). Results are compared based on operating costs and maximum wind power penetration.

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The aim of this paper is to present a nonlinear dynamic model for Voltage Source Converter-based HVDC (VSC-HVDC) links that can be used for dynamic studies. It includes the main physical elements and is controlled by PI controllers with antiwindup. A linear control model is derived for efficient tuning of the controllers of the nonlinear dynamic model. The nonlinear dynamic model is then tuned according to the performance of an ABB HVDC Light model.