In paper are proposed the original basic principles of HPP working conditions optimization under probabilistic electricity price and water inflow values. Developed model considers the most important technical parameters of HPP and allows making HPP's generation forecasts using time-varying input parameters. Paper includes description and results of case study performed to test proposed mathematical model and also analysis of the main support types for renewable resources. The elaborated model can be used for representing wide range of HPPs in electrical market and distribution network reliability analysis.
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