As compared to short-term forecasting (e.g., 1 day), it is often challenging to accurately forecast the volume of precipitation in a medium-term horizon (e.g., 1 week). As a result, fluctuations in water inflow can trigger generation shortage and electricity price spikes in a power system with major or predominant hydro resources. In this paper, we study a two-stage robust scheduling approach for a hydrothermal power system. We consider water inflow uncertainty and employ a vector autoregressive (VAR) model to represent its seasonality and accordingly construct an uncertainty set in the robust optimization approach. We design a Benders' decomposition algorithm to solve this problem. Results are presented for the proposed approach on a real-world case study.
ASJC Scopus subject areas
- Electrical and Electronic Engineering
- Energy Engineering and Power Technology