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

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

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.

Suggested Citation

  • Yuan, Wenlin & Zhang, Shijie & Su, Chengguo & Wu, Yang & Yan, Denghua & Wu, Zening, 2022. "Optimal scheduling of cascade hydropower plants in a portfolio electricity market considering the dynamic water delay," Energy, Elsevier, vol. 252(C).
    • Handle: RePEc:eee:energy:v:252:y:2022:i:c:s0360544222009288
    DOI: 10.1016/j.energy.2022.124025
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    References listed on IDEAS

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    2. Rongqi Zhang & Shanghong Zhang & Xiaoxiong Wen & Zhu Jing, 2023. "Refined Scheduling Based on Dynamic Capacity Model for Short-term Hydropower Generation," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 37(1), pages 21-35, January.

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