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Multi-Market Price Forecasting in Hydro-Thermal Power Systems

Multi-Market Price Forecasting in Hydro-Thermal Power Systems

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Sammendrag
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
Oppdragsgiver
  • Norges forskningsråd / 268014
Språk
Engelsk
Institusjon(er)
  • SINTEF Energi AS / Energisystemer
  • Norges teknisk-naturvitenskapelige universitet
År
2018
Publisert i
International Conference on the European Energy Market
ISSN
2165-4093
Forlag
IEEE conference proceedings
Bok
2018 15th International Conference on the European Energy Market - EEM
Hefte nr.
2018
ISBN
978-1-5386-1488-4