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A coordinated strategy between wind and reversible hydro units for the mid-term that reduces the imbalance of wind power and improves system efficiency is proposed. A stochastic mixed integer linear model is used, which maximizes the joint profit of wind and hydro energies and Conditional Value at Risk (CVaR), where CVaR is the tool utilized to model risk. The offering strategies studied are: i) separate...
In a competitive environment with bid-based markets, power generation companies desire to develop bidding strategies that maximize their revenue. In this paper we ask: What approaches and methodologies have been used to model the bidding problem for hydro-electric producers? We present the problem's developments over time and, through reviewing different variants of the problem, progressively build...
Water is scarce resource with uncertain availability. Hence finding an optimal production schedule for hydro producer is usually a complex task and it is necessary to carefully balance the timing of water use. This paper addresses the self-scheduling problem for a price-taker hydro producer. The goal is maximizing the profit of a hydro producer through participating in the day-ahead energy and ancillary...
In this paper, a stochastic mixed-integer linear programming approach is proposed to find the optimal operations planning of a hydro producer acting as a risk-neutral price-maker trading in the day-ahead market based on a pool. The proposed approach optimizes a set of scenarios using as decision variables the amount of power supplied by each generation unit facing the 24-hours residual demand curves...
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