Short term power system planning with water value and energy trade optimisation

Abstract

This paper emphasises the importance of a well planned unit commitment model in coordination with water value evaluation to achieve optimal economic results for genco. The existing water value models are examined and customized for the developed power system model. Linear programming methods are used to achieve optimal economic performance for hydro and thermal power plants production and the power exchange is calculated. Several scenarios of short term planning with emphasis on water value and power market exchanges are presented.