Optimal scheduling of cascade hydropower plants in a portfolio electricity market considering the dynamic water delay

Wenlin Yuan, Shijie Zhang, Chengguo Su, Yang Wu, Denghua Yan and Zening Wu

Energy, 2022, vol. 252, issue C

Abstract: With the reform of China's electricity market, the cascade hydropower plants' participation in the portfolio electricity market is an effective way to improve power generation profits and avoid risks. Hence, an optimized scheduling model for cascade hydropower plants simultaneously participating in both the daily contract market and the day-ahead spot market is developed. The dynamic water delay between the cascade hydropower plants, the uncertainty of the day-ahead market clearing price and the operating constraints of individual units are considered to make the model more realistic. To improve the solution efficiency, several linearization approaches are proposed to convert the original model into a scenario-based MILP problem, which can be solved by the efficient solver. The real-world case studies demonstrate that the developed model ensures appreciable power generation benefits while keeping the cascade hydropower plants in safe and stable operation. Moreover, compared with other water delay time formulations which we consider to be the most advanced in previous literature, the scheduling plan obtained from the proposed model is more realistic and computationally efficient. The impact of the penalty coefficient for the contract electricity imbalance is also analyzed, which can provide effective references for the market operators when formulating electricity trading rules.

Keywords: Cascade hydropower plants; Portfolio electricity markets; Dynamic water delay; Mixed integer linear programming (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:252:y:2022:i:c:s0360544222009288

DOI: 10.1016/j.energy.2022.124025

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