Title :
Optimality with Hydropower System
Author_Institution :
University of Michigan
fDate :
6/1/2002 12:00:00 AM
Abstract :
This paper studies an electricity producer´s long-term optimality in the case of a multireservoir hydropower system. The model solves the optimal production process and trading strategy of electricity and weather derivatives by maximizing the utility from production and terminal water reservoir level. The optimal trading strategy hedges the rainfall and electricity price uncertainties.
Keywords :
Hydroelectric power generation; Impedance; Load modeling; Power system modeling; Probability distribution; Production; Reservoirs; Uncertain systems; Uncertainty; Water resources; Hedging; derivatives; hydropower; production optimization;
Journal_Title :
Power Engineering Review, IEEE
DOI :
10.1109/MPER.2002.4312286
