  Due to the penetration of renewable energy resources and load deviation,
uncertainty handling is one of the main challenges for power system; therefore
the need for accurate decision-making in a power system under the penetration
of uncertainties is essential. However, decision makers should use suitable
methods for uncertainty management. In this chapter, some of the uncertainty
modeling methods in power system studies are analyzed. At first, multiple
uncertain parameters that the power system deals with are introduced, then some
useful uncertainty modeling methods are introduced. To show the uncertainty
modeling process and its effect on the decision-making, a microgrid consisting
of multiple uncertain parameters is considered, and stochastic scenario-based
approach is used for uncertainty modeling. The scheduling of microgrids in the
presence of different types of uncertainty is solved from the
profit-maximization point of view. The simulation results are presented for a
33-bus microgrid that shows the effectiveness of the proposed method for
decision-making under high level of uncertainty.
