Medium-term hydro operation in a competitive electricity market

Abstract

This paper presents a model to represent medium-term hydro operation in a deregulated power market. The objective of the model is to maximise the profit for a firm. The system is represented in two different levels: weekly and yearly. The weekly module computes profit as a function of total hydro production of the firm in each week. The yearly module uses this function to obtain the optimal operation that maximises profit.