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Power System Operation and Trading in competitive Energy Markets

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abstract In Chapter 1 planning problems concerning power generation and trading in new competitive energy markets are outlined. The old objective was to ensure security of supply at minimum costs. The
main stochastic influences were therefore load, outages and fluctuations in the production of certain power-plants
(e.g. hydro). The priorities depend on the individual conditions of an energy provider. In competitive markets maximizing profits becomes the main issue. Trading therefore becomes a key factor in planning for companies who want to participate in the energy business. With respect to the uncertainties and periodicity in the decision process, sochastic multistage programming is well suited for decision support in mid-term planning. In Chapter 2 the basic concepts are introduced. Barycentric approximation and stochastic dual dynamic programming and their capability to solve respective problems are described. The simultaneous use of different methodologies allows for a deeper understanding and extended analysis. In Chapter 3 modeling
issues concerning the representation of power systems operation (including hydro and thermal electricity production) and trading possibilities in competitive markets are discussed. Two general modeling approaches are presented. They are extended by riskmanagement concepts. Chapter 4 contains numerical results obtained from different modifications and extensions of a specific model that considers hydro-thermal power production with trading possibilities in an open power exchange. Chapter 5 summarizes the insights obtained from this work.
   
type thesis (English)
   
keywords operations research, stochastic programming, electricity markets, hydropower
   
university Universität St. Gallen
publisher Difo-Druck GmbH (Bamberg, DE)
date of appearance 2001
citation Güssow, J. (2001). Power System Operation and Trading in competitive Energy Markets, Universität St. Gallen, Thesis. Bamberg, DE: Difo-Druck GmbH.