A reservoir hydroelectric system: Exactly and approximately optimal policies

A reservoir hydroelectric system: Exactly and approximately optimal policies

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Article ID: iaor19981210
Country: Netherlands
Volume: 81
Issue: 3
Start Page Number: 535
End Page Number: 542
Publication Date: Mar 1995
Journal: European Journal of Operational Research
Authors: , ,
Keywords: programming: dynamic, markov processes
Abstract:

We analyze a discrete-time model of a single reservoir whose discharges generate hydroelectric power. Inflows in successive periods are random variables and the structure of the model is invariant over time. Revenue from hydroelectric production is assumed to follow a piecewise linear function. We characterize an optimal discharge policy and describe numerical results for the computation of approximately optimal policies.

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