Presentation is loading. Please wait.

Presentation is loading. Please wait.

HERBS - H YDRO E LECTRIC R ESERVOIR B IDDING S YSTEM Faisal Wahid Andy Philpott Anthony Downward.

Similar presentations


Presentation on theme: "HERBS - H YDRO E LECTRIC R ESERVOIR B IDDING S YSTEM Faisal Wahid Andy Philpott Anthony Downward."— Presentation transcript:

1 HERBS - H YDRO E LECTRIC R ESERVOIR B IDDING S YSTEM Faisal Wahid Andy Philpott Anthony Downward

2 2011 - Graduated in operations research at Engineering Science, University of Auckland Final year project: Investigating the operational effects of Tekapo A and B asset transfer 2012 - Worked as Trading Analyst for Mighty River Power Currently pursuing a PhD with Gaspard Monge Program for optimisation and operations research (PGMO), Meridian Energy and EDF River Optimisation: short term hydro scheduling under uncertainty

3 A CKNOWLEDGEMENTS Professor Andy Philpott – EPOC Dr. Anthony Downward – EPOC Andrew Kerr – Meridian Dr. Anes Dallagi – EDF Professor Frederic Bonnans - INRIA

4 F RENCH B ALANCING M ARKET

5 H YDRO - BIDDING

6

7 Price Quantity

8 H YDRO B IDDING P ROBLEM Producing optimal supply/offer curves for hydropower producers Integrates hydropower production and market exchange

9 P RESENTATION O UTLINE HERBS formulation (single reservoir) Simple example Challenges Opportunities Discussion

10 F ORMULATION – S INGLE S TAGE

11 Price ($/MW) Quantity (MW’s)

12 F ORMULATION – S INGLE S TAGE

13 F ORMULATION – T WO S TAGE 0 1 2 3 1 2 3 Stage 1Stage 2 Stage 0

14 F ORMULATION –B ALANCE M ARKET 0 1 2 3 1 2 3 Stage 1Stage 2 Stage 0

15 E XAMPLE #1 Stage 0Stage 1Stage 2 0 30 70 30 70 30 State (i)Probability Cumulative Probability 1 $ 70.000.2 2 $ 100.000.60.8 3 $ 130.000.21

16 C OMPARISON WITH EVP Stage 0Stage 1Stage 2 0 30 70 30 70 30 Stage 0Stage 1Stage 2 0 50 EVPHERBS

17 E XAMPLE #2 Stage 0Stage 1Stage 2 0 30 70 30 70 30 State (i)Probability Cumulative Probability 1 $ 70.000.2 2 $ 80.000.60.8 3 $ 130.000.21

18 C HALLENGES Curse of dimensionality Simulating stochastic prices Implementing large river chains Solution integrity

19 O PPORTUNITIES Effects of gate closures Unintuitive offer strategies Outer approximation (i.e. SDDP, DOASA) Stochastic dynamic programming

20 Thank You Questions?


Download ppt "HERBS - H YDRO E LECTRIC R ESERVOIR B IDDING S YSTEM Faisal Wahid Andy Philpott Anthony Downward."

Similar presentations


Ads by Google