The objective of this paper is to formulate a chance-constrained multivariate stochastic optimization problem which would perform the stochastic unit commitment and simultaneously would create an optimal combination of wind power curtailment and reserve scheduling to reduce overall cost of the system. As an initial step, the combination of the reserves and wind power curtailment (the convex mixture approach) was once modelled by using the convex mixture approach. The optimization problem corresponding to theconvex combination model was formulated to find an optimal combination of reserve dispatch and wind energy curtailment. Later, the combination of reserve scheduling and the wind power curtailment was modelled using the mixed logic dynamical systems framework (MLD). The optimization problem corresponding to the MLD method was once formulated to locate an optimal combination of reserve dispatch and wind power curtailment.
