“…Typical parameters for the probability distribution of line capacity are provided in [10]. To determine the probability distribution of line ampacity historical weather data across the line Nomenclature C g (P g ) cost of conventional generation C w (P w ) cost of wind power feed in C DLR total cost of dynamic line rating C congestion total cost of network congestion N L total number of branches in network N k number of values in discretized probability distribution of line capacity N W total number of wind generators (h pq,k , s max,pq,k ) kth Ordered pair (probability, value) representing line capacity probability distribution S sch,pq power flow in line from bus p to bus q a pq,k the dynamic line capacity discrete probability distribution c OLp unit cost of dynamic line rating P local,n adjustment of load at bus n after redispatch during congestion s jk wasted wind discrete probability distribution t jk reserve requirement discrete probability distribution c D unit cost of network congestion LMP i locational marginal price at node i LMP i,base locational marginal price at node i during uncongested base case P W total wind power generation P W,base total wind power generation during uncongested base case P D,i real power demand at bus i LMP V index measuring variation in Locational Marginal Price from base case will be necessary as per the procedure outlined in [10]. If correlation between wind speed and dynamic thermal ratings are to be accounted for, a different approach is required where the probability distribution of line capacity is conditional based on the probability of the wind speed distribution.…”