Stochastic scheduling for a price-maker hydro producer considering forward trading

摘要

This paper presents a short- and medium-term scheduling for a price-maker pumped storage power plant. Considered are stochastic hourly and seasonal water inflows, stochastic prices and detailed operational constraints. The model can choose between production of energy in the own turbines and pumps or bidding energy in the day-ahead market or in the Forward market. Proposed is a multistage stochastic program with a quadratic recourse problem, which is dynamically solved. The results of such an optimization, water values and optimal Forward bids, can be used as decision support in daily operation. A simulation of this operation throughout a year illustrates the use of the optimization on a realistic setting.