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Erschienen in:
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2013 | OriginalPaper | Buchkapitel

4. Price-Driven Hydropower Dispatch Under Uncertainty

verfasst von : Martin Densing

Erschienen in: Handbook of Risk Management in Energy Production and Trading

Verlag: Springer US

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Abstract

After a review of hydropower optimization models, we focus on price-driven hydropower dispatch models under uncertainty of the electricity price. We present two modeling approaches for pumped-storage plants. In the first model, the water level is constrained in expectation. We discuss the marginal price of water, which is obtained analytically, and influences of price variances. The second model is a multistage stochastic linear program on a scenario tree. Financial risk is constrained by a time-consistent extension of CVaR (conditional-value-at-risk). The model has two time scales: The short-term dispatch decision is separated from the long-term planning by aggregating electricity prices into occupation times at price levels. The risk constraint is tested in a case study.

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Vorheriges Kapitel Price Dynamics in Electricity Markets
Nächstes Kapitel On Cutting Plane Algorithms and Dynamic Programming for Hydroelectricity Generation
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Metadaten
Titel
Price-Driven Hydropower Dispatch Under Uncertainty
verfasst von
Martin Densing
Copyright-Jahr
2013
Verlag
Springer US
Buch
Handbook of Risk Management in Energy Production and Trading

Print ISBN: 978-1-4614-9034-0

Electronic ISBN: 978-1-4614-9035-7

Copyright-Jahr: 2013

DOI
https://doi.org/10.1007/978-1-4614-9035-7_4