The large fluctuation of short-term wind power brings significant challenges to power grid operation in terms of stability and security. In order to accurately assess the wind power accommodation of power systems in a short period

it is necessary to consider the forecasting error. In view of this

this paper proposes a probability interval optimization (PIO) model to evaluate the impact of wind power forecasting error on power system operation from the perspective of profit and risk

which aims to obtain the optimal dispatch scheme considering both profit and risk. In the PIO model

the uncertain wind power is formulated as a probability interval variable

i.e.

each wind power corresponds to a distribution probability. The profit is measured by the difference of operation cost between the same power system with and without the integration of wind power

and the risk is assessed by the distribution probability of wind power. Then the optimization objective is formulated as the conditional expectation with respect to profit and risk. Finally

numerical results are conducted in a dispatch system to compare the performance of the proposed model with the interval optimization model. The reliability

robustness and applicability of the proposed model is verified.