Optimal Decomposition for the Monthly Contracted Electricity of Cascade Hydropower Plants Considering the Bidding Space in the Day-Ahead Spot Market

• Published in: Water (Basel) Vol. 14; no. 15; p. 2347
• Main Authors: Wu, Yang, Su, Chengguo, Liu, Shuangquan, Guo, Hangtian, Sun, Yingyi, Jiang, Yan, Shao, Qizhuan
• Format: Journal Article
• Language: English
• Published: Basel MDPI AG 01.08.2022
• Subjects: Algorithms; Alliances; Alternative energy sources; cascade hydropower plants; Computer applications; day-ahead spot market; Decomposition; decomposition of the monthly contracted electricity; Electricity; Hydroelectric plants; Hydroelectric power; Integer programming; Linear programming; Mathematical programming; mixed-integer linear programming; Objective function; Optimization; Profits; Renewable resources; Scheduling; successive approximation; uncertainty of the clearing price; Brazil; Laos; China
• ISSN: 2073-4441; 2073-4441
• DOI: 10.3390/w14152347

With the gradual opening of China’s electricity market, it is effective for cascade hydropower plants to simultaneously participate in both the monthly contract market and the day-ahead spot market to obtain higher power generation benefits. Hence, this paper studies the optimal decomposition model for the monthly contracted electricity of cascade hydropower plants considering the bidding space in the day-ahead spot market. The close hydraulic and electric connection between cascade hydropower plants, the implementation requirements of contracted electricity, and the uncertainty of the day-ahead market clearing price are all well considered. Several linearization techniques are proposed to address the nonlinear factors, including the objective function and the power generation function. A successive approximation (SA) approach, along with a mixed-integer linear programming (MILP) approach, is then developed to solve the proposed model. The presented model is verified by taking the decomposition of the monthly contracted electricity of cascade hydropower plants in China as an example. The results indicate that the developed model has high computational efficiency and can increase the power generation benefits compared with the conventional deterministic model. The effect of the penalty coefficient for imbalanced monthly contracted electricity is also evaluated, which provides a practical reference for market managers.