Reliability-constrained hydropower valuation

Antony Ware

Energy Policy, 2018, vol. 118, issue C, 633-641

Abstract: Maximizing the long-term value of hydropower generation requires management of uncertain reservoir inflows, potentially variable constraints on outflows, and exposure to possibly wildly varying power prices. We describe a stochastic dynamic programming approach to the quantification of reservoir reliability (for example, measures of the risk of over-topping the reservoir or failing to satisfy downstream flow requirements) and a related approach to determining the reservoir flow strategy that maximizes expected revenue, subject to defined target reliability levels.

Keywords: Hydropower; Electricity markets; Renewable energy; Valuation (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:118:y:2018:i:c:p:633-641

DOI: 10.1016/j.enpol.2018.03.053

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