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Rolling Horizon Simulator for Evaluation of Bidding Strategies for Reservoir Hydro

Rolling Horizon Simulator for Evaluation of Bidding Strategies for Reservoir Hydro

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Sammendrag
In this paper, a practical approach for benchmarking different bidding strategies towards the day-ahead market has been evaluated. A rolling horizon simulation framework is developed and closely integrated in the daily operations of a hydropower producer. The power producer’s existing framework of decision support models and data for prices and inflow has been used to simulate the use of alternative strategies on a real life case. In the simulation procedure, a mixed-integer stochastic optimization model is used to determine the bids to the electricity market and the production schedule. It has been demonstrated that simulation over a long timehorizon can be used to evaluate different bidding strategies. Results from the case study show that one single strategy not necessarily will be the optimal one under all conditions, because the optimal strategy will depend on the the state of the system
Språk
Engelsk
Forfatter(e)
Institusjon(er)
  • Norges teknisk-naturvitenskapelige universitet
  • Norsk Hydro ASA
  • SINTEF Energi AS / Energisystemer
År
2019
Publisert i
International Conference on the European Energy Market
ISSN
2165-4093
Forlag
IEEE
Bok
2019 16th International Conference on the European Energy Market - EEM 2019
Hefte nr.
2019
ISBN
978-1-7281-1257-2
Side(r)
1 - 7