Optimization of hydro storage systems and indifference pricing of power contracts
Type
presentation
Date Issued
2015-06-10
Author(s)
Abstract
In this paper, we aim at a mid-term planning model for hydropower production based on multistage stochastic optimization. We decide about one production schedule for a horizon of one year from the point of view of a producer that owns pumped-storage hydropower plants. These consist of large, seasonal connected reservoirs. We consider stochastic inflows, stochastic electricity prices and stochastic loads. The produced electricity is sold at the spot market. In addition, we follow an indifference pricing approach for non-standard power contracts to determine the price at which the producer is willing to deliver electricity to individual consumers.
Language
English
HSG Classification
contribution to scientific community
Refereed
No
Event Title
Workshop, CAS, Oslo
Subject(s)
Eprints ID
241913
File(s)![Thumbnail Image]()
Name
FParaschiv_Oslo_10July.pdf
Size
675.37 KB
Format
Adobe PDF
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