To enhance the cost-effectiveness of bulk hybrid AC-DC power systems and promote wind consumption

this paper proposes a two-stage risk-based robust reserve scheduling (RRRS) model. Different from traditional robust optimization

the proposed model applies an adjustable uncertainty set rather than a fixed one. Thereby

the operational risk is optimized together with the dispatch schedules

with a reasonable admissible region of wind power obtained correspondingly. In addition

both the operational base point and adjustment capacity of tie-lines are optimized in the RRRS model

which enables reserve sharing among the connected areas to handle the significant wind uncertainties. Based on the alternating direction method of multipliers (ADMM)

a fully distributed framework is presented to solve the RRRS model in a distributed way. A dynamic penalty factor adjustment strategy (DPA) is also developed and applied to enhance its convergence properties. Since only limited information needs to be exchanged during the solution process

the communication burden is reduced and regional information is protected. Case studies on the 2-area 12-bus system and 3-area 354-bus system illustrate the effectiveness of the proposed model and approach.