RETRACTED: Modelling and operation of electrical grids considering techno-economic multi-objective functions

Analysing the functionality of electrical systems allows for an evaluation of the characteristics of different power sources over varying periods and enables the coordination of multiple units. This is crucial for assessing the effects of uncertainty on the system considering load and energy generation for the effectiveness of power system monitoring and smart scheduling and cost-effectiveness of electrical grid operation. This research introduces an approach for simulating the operation of an electrical grid considering different time scales based on economic and technical indices. First, a series of standard source load scenarios is established. Subsequently, multiple scenarios are produced to show the stochastic nature of renewable energy and demand and utilise the probability features of uncertain data. The system described in this paper shifts the power balance issue from a yearly scale to weekly and daily electricity balances based on different time scales. The performance of the stochastic simulation solution is significantly enhanced by effectively coordinating in different time periods. The total coal consumption, economic index, abandoned renewable energy, and the rate of abandoned renewable energy are all closely monitored to maintain a high level of accuracy in reflecting the system's performance.