This paper introduces network flexibility into the chance constrained economic dispatch (CCED). In the proposed model, both power generations and line susceptances become variables to minimize the expected generation cost and guarantee a low probability of constraint violation in terms of generations and line flows under renewable uncertainties. We figure out the mechanism of network flexibility against uncertainties from the analytical form of CCED. On one hand, renewable uncertainties shrink the usable line capacities in the line flow constraints and aggravate transmission congestion. On the other hand, network flexibility significantly mitigates congestion by regulating the base-case line flows and reducing the line capacity shrinkage caused by uncertainties. Further, we propose an alternate iteration solver for this problem, which is efficient. With duality theory, we propose two convex subproblems with respect to generation-related variables and network-related variables, respectively. A satisfactory solution can be obtained by alternately solving these two subproblems. The case studies on the IEEE 14-bus system and IEEE 118-bus system suggest that network flexibility contributes much to operational economy under renewable uncertainties.