A stochastic model for the daily coordination of pumped storage hydro plants and wind power plants

A stochastic model for the daily coordination of pumped storage hydro plants and wind power plants

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Article ID: iaor2012171
Volume: 193
Issue: 1
Start Page Number: 91
End Page Number: 105
Publication Date: Mar 2012
Journal: Annals of Operations Research
Authors: , , ,
Keywords: scheduling, stochastic processes, combinatorial optimization
Abstract:

We propose a stochastic model for the daily operation scheduling of a generation system including pumped storage hydro plants and wind power plants, where the uncertainty is represented by the hourly wind power production. In order to assess the value of the stochastic modeling, we discuss two case studies: in the former the scenario tree is built so as to include both low and high wind power production scenarios, in the latter the scenario tree is built on historical wind speed data covering a time span of one and a half year. The Value of the Stochastic Solution, computed by a modified new procedure, shows that in scenarios with low wind power production the stochastic solution allows the producer to obtain a profit which is greater than the one associated to the deterministic solution. In‐sample stability of the optimal function values for increasing number of scenarios is reported.

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