Economic environmental dispatch (EED) is a significant optimization problem in electric power system. With more wide spread use of wind power, it is necessary to include wind energy conversion system (WECS) in the EED problem. This paper presents a model to solve the EED problem incorporating wind power. In addition to the classic EED factors, the factors accounting for overestimation and underestimation of available wind power in both economic and environmental aspects are also considered. In order to obtain some quantitative results, the uncertain characteristic of available wind power and the performance of WECS are determined on the basis of the statistical characteristic of wind speed. The optimization problem is numerically solved by a scenario involving two conventional generators and two wind-powered generators. The results demonstrate that the allocation of system generation capacity may be influenced by multipliers related to the cost for overestimation and underestimation of available wind power, and by the multiplier related to the emissions for underestimation of available wind power. Nevertheless, the multiplier related to the emissions for overestimation of available wind power has little impact on the allocation. Taking account of economic factors, environmental factors and impacts of wind power penetration, the proposed EED model is beneficial to finding the right balance between radical and conservative strategy for wind power development. (C) 2014 Elsevier Ltd. All rights reserved.