The Influence of Environmental Constraints on the Water Value

Ignacio Guisández, Juan I. Pérez-Díaz and José R. Wilhelmi
Additional contact information
Ignacio Guisández: Department of Hydraulic, Energy and Environmental Engineering, Escuela de Ingenieros de Caminos, Canales y Puertos, Technical University of Madrid (UPM), c/ Profesor Aranguren s/n, Madrid 28040, Spain
Juan I. Pérez-Díaz: Department of Hydraulic, Energy and Environmental Engineering, Escuela de Ingenieros de Caminos, Canales y Puertos, Technical University of Madrid (UPM), c/ Profesor Aranguren s/n, Madrid 28040, Spain
José R. Wilhelmi: Department of Hydraulic, Energy and Environmental Engineering, Escuela de Ingenieros de Caminos, Canales y Puertos, Technical University of Madrid (UPM), c/ Profesor Aranguren s/n, Madrid 28040, Spain

Energies, 2016, vol. 9, issue 6, 1-21

Abstract: The establishment of more severe hydrological environmental constraints, usually as seasonal minimum flows ( ? ) and maximum ramping rates ( ? ), on hydropower operation is a growing trend. This paper presents a study on the influence of ? and ? on the water values (WV) of a real hydropower plant that participates in the Spanish day-ahead electricity market. For this purpose, a master-slave algorithm , based on stochastic dynamic programming (SDP) and deterministic mixed integer linear programming (DMILP), is used on a real hydropower plant. The master module , based on SDP, has a yearly planning period with weekly time steps and considers three state variables: stored water volume in the reservoir at the beginning of each week; weekly water inflow; and average weekly energy price. The slave module , based on DMILP, has a weekly planning period with hourly time steps and considers many features of the hydropower plant operation, such as: start-up costs, evaporation, wear and tear costs, etc . The results indicate that WV of a hydropower plant are very sensitive to the presence of these constraints; ? especially during the wettest season and ? during the driest one. As the severity of ? and ? increase, WV increase and decrease, respectively.

Keywords: water value; minimum environmental flows; maximum ramping rates; stochastic dynamic programming; mixed integer linear programming (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/1996-1073/9/6/446/pdf (application/pdf)
https://www.mdpi.com/1996-1073/9/6/446/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:9:y:2016:i:6:p:446-:d:71744

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().