Risk-Constrained Scheduling and Offering Strategies of a Price-Taker Hydro Producer under Uncertainty

• Type: Article in International Conference Proceedings Book
• Date: 2013

Authors

Pousinho, HMI (Author) Other; Catalao, JPS (Author) Other; Contreras, J (Author) Other; Bakirtzis, AG (Author) Other

Conference proceedings International

Title: 2013 IEEE Grenoble Conference PowerTech, POWERTECH 2013

2013 IEEE Grenoble Conference PowerTech, POWERTECH 2013

Grenoble, 16 June 2013 through 20 June 2013

Indexing

ISI Web of Knowledge - 0 Citations

Scopus - 2 Citations

Other information

Authenticus ID: P-008-XJB

DOI: 10.1109/ptc.2013.6652092

Abstract (EN): This paper proposes a mixed-integer nonlinear programming approach to maximize the total expected profit of a price-taker hydro producer operating in a pool-based electricity market. Head dependence, commitment decisions, discharge ramping, startup costs and forbidden zones are all effectively handled in our approach. Market uncertainty is modeled via price scenarios and risk management is suitably addressed using conditional value-at-risk. Appropriate offering strategies to the day-ahead market are developed, consisting of hourly supply functions generated for different risk levels. A realistic cascaded hydro system with seven reservoirs is considered as a case study for analyzing and comparing risk-neutral vs. risk-averse results. Conclusions are duly drawn.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 6