HYDRO generation scheduling and offering strategies considering price uncertainty and risk management

• Type: Article in International Conference Proceedings Book
• Date: 2011

Authors

Catalão, JPS (Author) Other; Pousinho, HMI (Author) Other; Contreras, J (Author) Other

Conference proceedings International

Title: 17th Power Systems Computation Conference, PSCC 2011

17th Power Systems Computation Conference, PSCC 2011

22 August 2011 through 26 August 2011

Indexing

Scopus - 1 Citation

Other information

Authenticus ID: P-00G-QPK

Abstract (EN): Under the current European energy policy towards a sustainable environment, the optimization of the hydropower resources is of crucial importance. In this paper, a mixed-integer nonlinear programming approach is proposed for the short-term hydro scheduling problem, considering head-dependency and discontinuous operating regions. As new contributions to earlier studies, market uncertainty is introduced via price scenarios and risk management is incorporated by limiting the volatility of the expected profit through the conditional value-at-risk. Besides, plant scheduling and pool offering by the hydro power producer are simultaneously considered to solve a realistic hydro system with three cascaded reservoirs. Finally, conclusions are duly drawn.

Language: English

Type (Professor's evaluation): Scientific