HYDRO GENERATION SCHEDULING AND OFFERING STRATEGIES CONSIDERING PRICE UNCERTAINTY AND RISK MANAGEMENT

Under the current European energy policy towards a sustainable environment, the optimization of the hydropower resources is of crucial importance. In this paper, a mixed-integer nonlinear programming approach is proposed for the short-term hydro scheduling problem, considering head-dependency and discontinuous operating regions. As new contributions to earlier studies, market uncertainty is introduced via price scenarios and risk management is incorporated by limiting the volatility of the expected profit through the conditional value-at-risk. Besides, plant scheduling and pool offering by the hydro power producer are simultaneously considered to solve a realistic hydro system with three cascaded reservoirs. Finally, conclusions are duly drawn.

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