Risk Aversion in a Mixed-Integer Nonlinear Approach to Support Decision-Making for a Hydro Power Producer

In this paper, a mixed-integer nonlinear approach is proposed to support decision-making for a hydro power producer, considering a head-dependent hydro chain. The aim is to maximize the profit of the hydro power producer from selling energy into the electric market. As a new contribution to earlier studies, a risk aversion criterion is taken into account, as well as head-dependency. The volatility of the expected profit is limited through the conditional value-at-risk (CVaR). The proposed approach has been applied successfully to solve a case study based on one of the main Portuguese cascaded hydro systems.

A stochastic programming approach for the development of offering strategies for a wind power producer

A stochastic programming approach is proposed in this paper for the development of offering strategies for a wind power producer. The optimization model is characterized by making the analysis of several scenarios and treating simultaneously two kinds of uncertainty: wind power and electricity market prices. The approach developed allows evaluating alternative production and offers strategies to submit to the electricity market with the ultimate goal of maximizing profits. An innovative comparative study is provided, where the imbalances are treated differently. Also, an application to two new realistic case studies is presented. Finally, conclusions are duly drawn.

The Optimisation of the Draft Tube of a Hydro Power Plant at Off-Design Conditions

Several possible methods of increasing the efficiency and power of hydro power plants by improving the flow passages are investigated in this stydy. The theoretical background of diffuser design and its application to the optimisation of hydraulic turbine draft tubes is presented in the first part of this study. Several draft tube modernisation projects that have been carried out recently are discussed. Also, a method of increasing the efficiency of the draft tube by injecting a high velocity jet into the boundary layer is presented. Methods of increasing the head of a hydro power plant by using an ejector or a jet pump are discussed in the second part of this work. The theoretical principles of various ejector and jet pump types are presented and four different methods of calculating them are examined in more detail. A self-made computer code is used to calculate the gain in the head for two example power plants. Suitable ejector installations for the example plants are also discussed. The efficiency of the ejector power was found to be in the range 6 - 15 % for conventional head increasers, and 30 % for the jet pump at its optimum operating point. In practice, it is impossible to install an optimised jet pump with a 30 % efficiency into the draft tube as this would considerabely reduce the efficiency of the draft tube at normal operating conditions. This demonstrates, however, the potential for improvement which lies in conventional head increaser technology. This study is based on previous publications and on published test results. No actual laboratory measurements were made for this study. Certain aspects of modelling the flow in the draft tube using computational fluid dynamics are discussed in the final part of this work. The draft tube inlet velocity field is a vital boundary condition for such a calculation. Several previously measured velocity fields that have successfully been utilised in such flow calculations are presented herein.

Analyzing the Effects of the New Renewable Energy Policy in Russia on Investments into Wind, Solar and Small Hydro Power

This thesis presents an analysis of recently enacted Russian renewable energy policy based on capacity mechanism. Considering its novelty and poor coverage by academic literature, the aim of the thesis is to analyze capacity mechanism influence on investors’ decision-making process. The current research introduces a number of approaches to investment analysis. Firstly, classical financial model was built with Microsoft Excel® and crisp efficiency indicators such as net present value were determined. Secondly, sensitivity analysis was performed to understand different factors influence on project profitability. Thirdly, Datar-Mathews method was applied that by means of Monte Carlo simulation realized with Matlab Simulink®, disclosed all possible outcomes of investment project and enabled real option thinking. Fourthly, previous analysis was duplicated by fuzzy pay-off method with Microsoft Excel®. Finally, decision-making process under capacity mechanism was illustrated with decision tree. Capacity remuneration paid within 15 years is calculated individually for each RE project as variable annuity that guarantees a particular return on investment adjusted on changes in national interest rates. Analysis results indicate that capacity mechanism creates a real option to invest in renewable energy project by ensuring project profitability regardless of market conditions if project-internal factors are managed properly. The latter includes keeping capital expenditures within set limits, production performance higher than 75% of target indicators, and fulfilling localization requirement, implying producing equipment and services within the country. Occurrence of real option shapes decision-making process in the following way. Initially, investor should define appropriate location for a planned power plant where high production performance can be achieved, and lock in this location in case of competition. After, investor should wait until capital cost limit and localization requirement can be met, after that decision to invest can be made without any risk to project profitability. With respect to technology kind, investment into solar PV power plant is more attractive than into wind or small hydro power, since it has higher weighted net present value and lower standard deviation. However, it does not change decision-making strategy that remains the same for each technology type. Fuzzy pay-method proved its ability to disclose the same patterns of information as Monte Carlo simulation. Being effective in investment analysis under uncertainty and easy in use, it can be recommended as sufficient analytical tool to investors and researchers. Apart from described results, this thesis contributes to the academic literature by detailed description of capacity price calculation for renewable energy that was not available in English before. With respect to methodology novelty, such advanced approaches as Datar-Mathews method and fuzzy pay-off method are applied on the top of investment profitability model that incorporates capacity remuneration calculation as well. Comparison of effects of two different RE supporting schemes, namely Russian capacity mechanism and feed-in premium, contributes to policy comparative studies and exhibits useful inferences for researchers and policymakers. Limitations of this research are simplification of assumptions to country-average level that restricts our ability to analyze renewable energy investment region wise and existing limitation of the studying policy to the wholesale power market that leaves retail markets and remote areas without our attention, taking away medium and small investment into renewable energy from the research focus. Elimination of these limitations would allow creating the full picture of Russian renewable energy investment profile.

Economical use of hydro power, steam power and system interconnections

Includes bibliography

Requirements and methodology for the massive implementation of small hydro power stations in Latin America

Spanish version available

Dynamic response of hydro power plants for providing secondary regulation reserves considering elastic water column effects

In this paper, the dynamic response of a hydro power plant for providing secondary regulation reserve is studied in detail. Special emphasis is given to the elastic water column effects both in the penstock and the tailrace tunnel. For this purpose, a nonlinear model based on the analogy between mass and momentum conservation equations of a water conduit and those of wave propagation in transmission lines is used. The influence of the plant configuration and design parameters on the fulfilment of the Spanish Electrical System Operator requirements is analysed

Pond head level control in a run-of-river hydro power plant using fuzzy controller

The run-of-river hydro power plant usually have low or nil water storage capacity, and therefore an adequate control strategy is required to keep the water level constant in pond. This paper presents a novel technique based on TSK fuzzy controller to maintain the pond head constant. The performance is investigated over a wide range of hill curve of hydro turbine. The results are compared with PI controller as discussed in [1].

Dynamic response of hydro power plants to load variations for providing secondary regulation reserves considering elastic water column effects

In this paper, the dynamic response of a hydro power plant for providing secondary regulation reserve is studied in detail. S pecial emphasis is given to the elastic water column effects both in the penstock and the tailrace tunnel. For this purpose, a nonline ar model based on the analogy between mass and momentum conservation equations of a water conduit and those of wave propagation in transmission lines is used. The influence of the plant configuration and design parameters on the fulfilment of the Spanish Electrical System Operator requirem ents is analysed.

Characteristic study, its identification and self-tuned approach to control hydro-power plants

The water time constant and mechanical time constant greatly influences the power and speed oscillations of hydro-turbine-generator unit. This paper discusses the turbine power transients in response to different nature and changes in the gate position. The work presented here analyses the characteristics of hydraulic system with an emphasis on changes in the above time constants. The simulation study is based on mathematical first-, second-, third- and fourth-order transfer function models. The study is further extended to identify discrete time-domain models and their characteristic representation without noise and with noise content of 10 & 20 dB signal-to-noise ratio (SNR). The use of self-tuned control approach in minimising the speed deviation under plant parameter changes and disturbances is also discussed.

Hydro power : Chapter 1. Definition of terms and requirements for reports ; Chapter 2. Determination of power capacity and energy output /

Mode of access: Internet.

Short-Term Trading for a Wind-PV Power Producer in an Electricity Market

This paper deals with the problem of coordinated trading of wind and photovoltaic systems in order to find the optimal bid to submit in a pool-based electricity market. The coordination of wind and photovoltaic systems presents uncertainties not only due to electricity market prices, but also with wind and photovoltaic power forecast. Electricity markets are characterized by financial penalties in case of deficit or excess of generation. So, the aim o this work is to reduce these financial penalties and maximize the expected profit of the power producer. The problem is formulated as a stochastic linear programming problem. The proposed approach is validated with real data of pool-based electricity market of Iberian Peninsula.

Canadian Niagara Power Glass Slide - Group of men walking through the hydro tunnel

Four men (unidentified) walking in tunnel wearing hard hats and carrying flashlights.

Canadian Niagara Power Glass Slide - Engineer Drawing Hydro Station

Appears to be an engineer's drawing of the Hydro Station. It is a cross-section view of the interior.