Dispatch planning using newsvendor dual problems and occupation times: Application to hydropower |
| |
Authors: | M Densing |
| |
Institution: | Energy Economics Group, Paul Scherrer Institute, 5232 Villigen PSI, Switzerland |
| |
Abstract: | We consider price-driven dispatch planning under price uncertainty: A storable commodity is optimally sold and purchased over time. First, we consider models where the storage level is constrained in expectation. The dual of the corresponding optimization problem is related to the newsvendor problem. Exact solutions of bang-bang type are given. The second methodology is for high-frequency dispatch decisions in multistage stochastic programming models: To overcome the curse of dimensionality, prices are modeled by occupation times at price levels. In a case study, we consider a pumped-storage hydropower plant: Numerical solutions are given, which have similar patterns as for the first, exactly solvable problems. |
| |
Keywords: | Dispatch planning Bang-bang control Newsvendor problem Occupation time Multistage stochastic linear programming Hydropower optimization |
本文献已被 ScienceDirect 等数据库收录! |
|