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Water values in future power markets

Abstract

In this paper we elaborate on how a hydropower producer's expected marginal value of water (water value) is affected when considering both sales of energy and reserve capacity in a liberalized market setting. We derive analytical expressions for the water value in this market context, and verify these through numerical computations. We find that the water values are more sensitive to changes in the reservoir level when considering sales of both energy and reserve capacity compared to the energy-only case.
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Category

Academic chapter

Language

English

Author(s)

Affiliation

  • SINTEF Energy Research / Energisystemer

Year

2017

Publisher

IEEE Press

Book

12th IEEE Power and Energy Society PowerTech Conference PowerTech Manchester 2017

ISBN

9781509042388

View this publication at Norwegian Research Information Repository