Bidding hydropower generation: Integrating short- and long-term scheduling

Fleten, Stein-Erik and Haugstvedt, Daniel and Steinsbø, Jens Arne and Belsnes, Michael and Fleischmann, Franziska (2011): Bidding hydropower generation: Integrating short- and long-term scheduling. Published in: 17th Power System Computation Conference (August 2011)

Abstract

Bidding of flexible reservoir hydropower in day-ahead (spot) auctions needs to be done under uncertainty of electricity prices and inflow to reservoirs. The presence of reservoirs also means that the short-term problem of determining bids for the next 12–36 hours is a part of a long term problem in which the question is whether to release water now or store it for the future. This multi-scale challenge is usually addressed by using several models for hydropower planning, at least one long-term model and one short-term model. We present a multistage stochasticmixed integer programming model that has a fine time resolution on near term, and a coarser resolution going forward. It handles price as a stochastic parameter and assumes deterministic inflow as it is intended for use in the winter season.

• Item Type: MPRA Paper
• Language: English
• Keywords: Hydropower scheduling, bidding strategies, stochastic programming
• Subjects: C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C61 - Optimization Techniques ; Programming Models ; Dynamic Analysis; D - Microeconomics > D8 - Information, Knowledge, and Uncertainty; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q2 - Renewable Resources and Conservation > Q25 - Water; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q4 - Energy

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