Stochastic programming for optimizing bidding strategies of a Nordic hydropower producer
作者: Stein-Erik FletenTrine Krogh Kristoffersen
作者单位: 1Department of Industrial Economics and Technology Management, Norwegian University of Science and Technology, NO-7491 Trondheim, Norway
2Department of Operations Research, University of Aarhus, Ny Munkegade, Bygning 1530, DK-8000 Århus C, Denmark
刊名: European Journal of Operational Research, 2006, Vol.181 (2), pp.916-928
来源数据库: Elsevier Journal
DOI: 10.1016/j.ejor.2006.08.023
关键词: OR in energyElectricity marketsBiddingStochastic programmingScenarios
英文摘要: Abstract(#br)From the point of view of a price-taking hydropower producer participating in the day-ahead power market, market prices are highly uncertain. The present paper provides a model for determining optimal bidding strategies taking this uncertainty into account. In particular, market price scenarios are generated and a stochastic mixed-integer linear programming model that involves both hydropower production and physical trading aspects is developed. The idea is to explore the effects of including uncertainty explicitly into optimization by comparing the stochastic approach to a deterministic approach. The model is illustrated with data from a Norwegian hydropower producer and the Nordic power market at Nord Pool.
全文获取路径: Elsevier  (合作)
影响因子:2.038 (2012)

  • bidding 报价
  • programming 程序设计
  • optimizing 最佳化
  • producer 生产者
  • hydropower 水力
  • energy 能量