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Multi-Market Price Forecasting in Hydro-Thermal Power Systems

Multi-Market Price Forecasting in Hydro-Thermal Power Systems

Category
Academic chapter/article/Conference paper
Abstract
This paper presents a framework for price forecasting in hydro-thermal power systems. The framework consists of a long-term strategic and a short-term operational model. The strategic model provides the end-of-horizon valuation of water in hydro storages as input to the operational model. We emphasize on the operational model, and discuss work in progress to facilitate more detailed fundamental market modeling to enable realistic multi-market price forecasting. A case study of the Nordic power system demonstrates the use of the framework, quantifying the impact of constraints on cable ramping and reserve capacity on prices
Client
  • Research Council of Norway (RCN) / 268014
Language
English
Affiliation
  • SINTEF Energy Research / Energisystemer
  • Norwegian University of Science and Technology
Year
2018
Publisher
IEEE conference proceedings
Book
2018 15th International Conference on the European Energy Market - EEM
Issue
2018
ISBN
978-1-5386-1488-4