A method is provided. The method includes identifying a dispatch interval for dispatching power from a wind farm, determining an observation time interval and a control time interval in the dispatch interval, computing a farm power moving average of the power of the wind farm, computing a grid frequency moving average of a grid frequency, determining a farm power set point based on a predefined wind farm operating model using the farm power moving average and the grid frequency moving average, controlling one or more wind turbines in the wind farm during the control time interval based on the farm power set point to regulate a farm-level dispatch power.