Deliberation on the Economical Assessment of Pump Storage Power Plants

摘要

This article deliberates economic aspects of pump storages or energy storages respectively. Different mathematical approaches are being applied on the hourly Forward Curve (hFC) of Stadtwerke Munchen GmbH in order to assess its volatility in three scenarios (high, central, low). Furthermore, the timeline is being modulated by a mean reverting process. The focus, however, is placed on Simplex-optimizations, stochastic analysis and Fourier transforms of the modeled power price. In doing so a linear relationship between the sum of the RMS (root-mean-square) of the hFC and the earnings (sales less costs for pumping) is found. The examination of idle periods gives further insights.