Hydropower scheduling in day-ahead and balancing markets
Authors:
- 1 May 2015
- conference paper
- Published by Institute of Electrical and Electronics Engineers (IEEE)
- No. 21654077,p. 1-5
Abstract
We present a stochastic mixed-integer model for the optimization of joint trade in the day-ahead and balancing markets. The model takes the perspective of a risk-neutral price-taking hydropower producer for a one-day planning horizon. The model is used to study the value of trading in both markets as opposed to day-ahead trades only. In particular we study how this value is affected by the flexibility in the production system. The results indicates a small added value from balancing market participation which is increasing as the production flexibility increases.Keywords
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