multistage day-ahead economic dispatch

In order to obtain the ex-ante least-cost schedule of energy generation and reserves for online generating units, the system operator addresses a dynamic decision-making process known as the economic dispatch (ED) problem. Current industry practice involves adopting a deterministic two-stage optimization framework that relies on a one-day-ahead horizon and a forecast of uncertain parameters. The optimal solution to the resulting problem thus yields a generation schedule for the entire day ahead.