A stochastic mixed integer linear optimization scheduling model minimizing system operation costs and treating load and wind power production as stochastic inputs is presented. The schedules are updated in a rolling manner as more up-to-date information becomes available. This is a fundamental change relative to day-ahead unit commitment approaches. The need for reserves dependent on forecast horizon and share of wind power has been estimated with a statistical model combining load and wind power forecast errors with scenarios of forced outages. The model is used to study operational impacts of future high wind penetrations for the island of Ireland. Results show that at least 6000 MW of wind (34% of energy demand) can be integrated into the island of Ireland without significant curtailment and reliability problems.