PROJECT TITLE :

Optimal Wind Reversible Hydro Offering Strategies for Midterm Planning

ABSTRACT:

A coordinated strategy between wind and reversible hydro units for the midterm planning that reduces the imbalance of wind power and improves system potency is proposed. A stochastic mixed integer linear model is used, which maximizes the joint profit of wind and hydro units, where conditional price at risk (CVaR) is employed for model risk. The providing ways studied are one)separate wind and hydro pumping offer, where the units work separately while not a physical affiliation and 2)a single wind and hydro pumping supply with a physical affiliation between them to store wind energy for future use. The consequences of a coordinated wind-hydro strategy for midterm coming up with are analyzed, considering CVaR and the future water worth. The longer term water worth within the reservoirs is analyzed hourly for a amount of one week and a couple of months, in 2 realistic case studies.