Optimal regulating market bidding strategies in hydropower systems
2005 (English)In: 15th Power Systems Computation Conference, PSCC 2005, Power Systems Computation Conference , 2005Conference paper (Refereed)
The transmission system operator (TSO) is responsible for keeping the balance between production and consumption in the power system. In order to do so, the TSO continuously trades power on the so-called regulating market. Hydropower is a flexible power source well suited for trading on the regulating market because it allows fast changes in generation output. This paper describes an optimization model for creating optimal bidding strategies for the regulating market from a hydropower producer perspective. The model is based on nonlinear stochastic programming, where the regulating market prices are considered stochastic variables. The model also includes generation of regulating power price scenarios and scenario tree construction.
Place, publisher, year, edition, pages
Power Systems Computation Conference , 2005.
Bidding strategy, Hydropower, Power market, Stochastic optimization, Stochastic process, Commerce, Decision trees, Hydroelectric power, Optimization, Power markets, Random processes, Stochastic models, Stochastic programming, Stochastic systems, Optimal bidding strategy, Optimization modeling, Production and consumption, Scenario tree constructions, Stochastic optimizations, Transmission system operators, Electric power transmission
Electrical Engineering, Electronic Engineering, Information Engineering
IdentifiersURN: urn:nbn:se:kth:diva-196204ScopusID: 2-s2.0-84982318370OAI: oai:DiVA.org:kth-196204DiVA: diva2:1046721
15th Power Systems Computation Conference, PSCC 2005, 22 August 2005 through 26 August 2005
Correspondence Address: Olsson, M.; Dept. of Electrical Engineering, ETS, KTHSweden; email: firstname.lastname@example.org. QC 201611152016-11-152016-11-142016-11-15Bibliographically approved