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A Decision Support Model for Weekly Operation of Hydrothermal Systems by Stochastic Nonlinear Optimization

In: Stochastic Optimization Methods in Finance and Energy

Author

Listed:
  • Andres Ramos

    (Universidad Pontificia Comillas)

  • Santiago Cerisola

    (Universidad Pontificia Comillas)

  • Jesus M. Latorre

    (Universidad Pontificia Comillas)

  • Rafael Bellido

    (Iberdrola)

  • Alejandro Perea

    (Iberdrola)

  • Elena Lopez

    (Iberdrola)

Abstract

This chapter formulates and solves an optimal resource allocation problem of thermal and hydropower plants with multiple basins and multiple connected reservoirs. The stochastic factors of the problem are here represented by natural hydro inflows. A multivariate scenario tree is in this case obtained taking into account the stochastic inputs and their spatial and temporal dependencies. The hydropower plant efficiency depends on its water head and the reservoir volume depends nonlinearly on the headwater elevation, leading to a large-scale stochastic nonlinear optimization problem, whose formulation and solution are detailed in the case study. An analysis of exhaustive alternatives of computer implementation is also discussed.

Suggested Citation

  • Andres Ramos & Santiago Cerisola & Jesus M. Latorre & Rafael Bellido & Alejandro Perea & Elena Lopez, 2011. "A Decision Support Model for Weekly Operation of Hydrothermal Systems by Stochastic Nonlinear Optimization," International Series in Operations Research & Management Science, in: Marida Bertocchi & Giorgio Consigli & Michael A. H. Dempster (ed.), Stochastic Optimization Methods in Finance and Energy, edition 1, chapter 0, pages 143-161, Springer.
    • Handle: RePEc:spr:isochp:978-1-4419-9586-5_7
    DOI: 10.1007/978-1-4419-9586-5_7
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    Cited by:

    1. Densing, M., 2013. "Dispatch planning using newsvendor dual problems and occupation times: Application to hydropower," European Journal of Operational Research, Elsevier, vol. 228(2), pages 321-330.

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