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MaxRev
MaxRev is a dispatch model that maximizes the expected value of the revenue of a set of hydroelectric and thermoelectric plants that have a load to supply and can sell or purchase energy in a spot market. The model represents uncertainties on both inflows (stochastic model that preserves time and spatial correlations) and spot prices (Markov chain). We also assume that the plants’ energy production does not affect spot prices, that is, that the plants are “price takers”. The problem is solved by a dual/discretized stochastic dynamic programming technique developed by PSR. The model can be used by companies that wish to define their dispatch strategies in a competitive environment or by national System Operators in an environment of energy interchanges with the neighboring countries.
Somo recent uses of MaxRev include the systems of France, Austria, Turkey and Honduras.
Tela 1.4.1
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