Estimation of the remuneration of hydro plants in a market environment using an iterative under-relaxation approach

• Type: Article in International Conference Proceedings Book
• Date: 2009

Authors

José Carlos Sousa (Author) FEUP; Virgílio Torrado Mendes (Author) FEUP; João Tomé Saraiva (Author) FEUP

Conference proceedings International

Title: 2009 IEEE BUCHAREST POWERTECH, VOLS 1-5

Pages: 2157-2162

Bucharest PowerTech Conference

Bucharest, ROMANIA, JUN 28-JUL 02, 2009

Indexing

ISI Proceedings

ISI Web of Knowledge - 0 Citations

ISI Web of Science

Scopus - 15 Citations

INSPEC

Scientific classification

FOS: Engineering and technology > Electrical engineering, Electronic engineering, Information engineering

CORDIS: Technological sciences

Other information

Authenticus ID: P-003-T4X

DOI: 10.1109/ptc.2009.5282138

Abstract (EN): One of the challenges that generation companies having hydro stations are facing corresponds to build the most adequate bids to send to day-ahead markets, maximizing their profit and taking into account the expect inflows, market prices and the interdependency between hydro plants in cascades. As a contribution to address this problem, this paper describes a short-term optimization model to build one-week schedules for a set of hydro power plants so that the outputs can be used to bid in the day-ahead market. This model is coordinated with a medium-scale (one year) model that inputs the value of using the water in the short-term problem. The developed model considers the non-linear relationship between the electric power, the net head and the turbine discharge and it takes in consideration pumping as well. The solution approach is based on an under-relaxed iterative procedure based on the algorithm described in [1] and the players are considered as price-takers, so that market prices are input variables. To solve the medium-term problem we propose a similar model that sends information about the final week volumes of each power plant to the short-term problem. On the other hand, we conducted a scenario analysis regarding market prices and inflows to internalize uncertainty. Finally, the model was successfully applied to a real size Portuguese cascade and the paper includes several results to illustrate the application of the developed models.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 6