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

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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 Graduated in operations research at Engineering Science, University of Auckland Final year project: Investigating the operational effects of Tekapo A and B asset transfer 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 Stage 1Stage 2 Stage 0

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

15 E XAMPLE #1 Stage 0Stage 1Stage State (i)Probability Cumulative Probability 1 $ $ $

16 C OMPARISON WITH EVP Stage 0Stage 1Stage Stage 0Stage 1Stage EVPHERBS

17 E XAMPLE #2 Stage 0Stage 1Stage State (i)Probability Cumulative Probability 1 $ $ $

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?


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