Application of Marginal Rate of Transformation in Decision Making of Multi-Objective Reservoir Optimal Operation Scheme

Yueqiu Wu, Liping Wang, Yanke Zhang, Jiajie Wu, Qiumei Ma and Lisha Yue
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Yueqiu Wu: School of Water Resources and Hydropower Engineering, North China Electric Power University, Beijing 102206, China
Liping Wang: School of Water Resources and Hydropower Engineering, North China Electric Power University, Beijing 102206, China
Yanke Zhang: School of Water Resources and Hydropower Engineering, North China Electric Power University, Beijing 102206, China
Jiajie Wu: School of Water Resources and Hydropower Engineering, North China Electric Power University, Beijing 102206, China
Qiumei Ma: School of Water Resources and Hydropower Engineering, North China Electric Power University, Beijing 102206, China
Lisha Yue: Bank of KunLun, Beijing 100033, China

Sustainability, 2021, vol. 13, issue 3, 1-17

Abstract: For reservoirs with combined storage capacity for flood control and beneficial purposes, there tends to be potential benefit loss when the flood control limited water level is used in medium and small floods. How to find the optimal water level scheme for profit-making and pursue the optimization of comprehensive benefits has always been a difficult problem in multi-objective reservoir optimal operation. Based on the principle of the maximum benefit obtained by the product conversion curve and the isorevenue line in microeconomics, taking flood control and power generation as two products of a reservoir, a multi-objective optimal operation scheme decision-making model is established to seek the highest water level scheme that can produce the maximum comprehensive benefits of flood control and power generation. A case study of the Three Gorges reservoir in the early flood season of a dry year shows that on the one hand, under the condition of deterministic inflow, the model can work out the optimal water level and the corresponding best equilibrium point for both flood control and power generation, and it can increase the total power output by 4.48% without reducing the flood control benefits; on the other hand, it can also obtain the dynamic control area of the maximum allowable water level for power generation considering inflow forecast error, which provides a theoretical reference for determining the starting water level in medium and small floods and utilizing flood resources.

Keywords: marginal rate of transformation; multi-objective reservoir optimal operation; scheme decision; forecast error; best equilibrium point; the maximum allowable water level for power generation (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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