Stochastic self-scheduling of hydro units in joint energy and reserves markets

This paper addresses the self-scheduling problem of stochastic unit commitment status for hydro units before submitting the hourly bids for the next 24 hourly periods in a day-ahead joint energy and reserve markets. The proposed model is formulated as a stochastic optimization problem where expected profit is maximized using the Mixed-Integer Programming (MIP) technique. Price uncertainty is considered based on the price forecast error in the stochastic selfscheduling problem; roulette wheel mechanism is implemented to generate scenarios for each hour. Model consists of longterm bilateral contracts. The proposed model takes into account practical constraints of the hydro units, which includes head dependent reservoirs, multi head power-discharge characteristics of hydro units, cascaded reservoirs, etc. The effectiveness of the proposed model is shown on test system

Keywords:

Stochastic self-scheduling , Mixed-integer programming , Head dependent reservoirs , Joint energy and reserve markets , Roulette wheel mechanism