Stochastc Optimization - Deterministic Optimization - Day-Ahead-Dispatch Planning - Ancillary Services Offer Optimization - Intradayoptimization - Forward Trading - Real Option Valuation - Longterm Optimization - Exact head dependent Efficiency - Water Values - Ancillary Services Stochastics - Inflow Stochastics - Price Stochastics

Stochastic Optimization of Hydro Power and Pumped Storage Systems

For the foresighted valuation and optimal dispatch planning of hydro power and pumped storage systems, we offer you a stochastic optimization solution. With our solution, you gain extra return through the integrated modelling of all uncertainties such as Price, inflow and ancillary services uncertainties.

Our solution

  • Day-ahead optimization together with the optimization of the ancillary services distribution to the assets
  • Pre-spot price dependent bids optimization
  • Intraday optimization
  • Ancillary Services offer optimization
  • Deterministic long term optimization
  • Stochastic long term optimization
  • Risk-adjusted forward trading with CVar-Restrictions
  • Detailed modelling of head/flow dependent turbine efficiencies
  • Flexible configuration of the periods and decision granularities for stochastic optimization

The need for stochastic optimization

Meanwhile, users and expertss agree that a pumped storage system cannot be optimally operated without a long term stochastic valuation of water. Pure deterministic, inadequate models lead to frequent plan revisions and to irreversible lossy decisions.

Specialities in Ancillary Services Optimization

The quotation and reservation of ancillary services for hydro power systems goes along with some special challenges.

  • Optimization of the water and empty space reservation

In the creation of quotations for ancillary services, you have to guarantee the ability to provide the quoted energy during the obligation period. Therefore, you need to reserve sufficient water and empty space reserves. Our solution for ancillary services optimizes the water and empty space reserves through a scenario-based approach and leads to feasible decisions.

  • Power reservation with regard to head/flow dependent turbine efficiencies

You have to guarantee, that your assets are able to deliver the quoted regulation power with regard to the efficiencies. Our ancillary services optimization solution uses an exact head/flow dependent efficiency modeling approach ensuring feasible ancillary services quotations.