Project participants should receive the best possible models for scheduling the operation of their hydro systems and flexible contracts.

While the project's primary goal is the development of models that will improve the management of reservoirs and flexible contracts, developed models should also be applicable to investment analysis. The models will have a scope of use ranging from forecasting market prices and energy flow in large electricity markets to local long- and mid-term generation scheduling. Development will mainly be based on application of the Stochastic Dual Dynamic Programming (SDDP) technique for stochastic optimization, but models already available such as the EOPS and EMPS models may also be improved and receive added functionality.

Contact:

Arne Haugstad