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Energies 2018, 11(1), 16; doi:10.3390/en11010016

Value-Creation Potential from Multi-Market Trading for a Hydropower Producer

1
SINTEF Energy Research, 7034 Trondheim, Norway
2
SINTEF Technology and Society, 7034 Trondheim, Norway
*
Author to whom correspondence should be addressed.
Received: 13 November 2017 / Revised: 15 December 2017 / Accepted: 19 December 2017 / Published: 22 December 2017
(This article belongs to the Special Issue Hydropower 2017)
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Abstract

We study a hydropower producer’s potential for value-creation from multi-market trading given the price variations in the markets and the flexibility provided through access to hydro reservoirs. We use a perfect foresight optimization model for a price-taking hydropower producer co-optimizing his trades in the day-ahead, intra-day and balancing markets. The model is used on real market data from Norway, Sweden and Germany. The study shows a theoretical potential for added value when selling energy in multiple markets relative to optimal day-ahead sale. Most of this value is achievable also when the perfect foresight is limited to the period from day-ahead bidding until operation. Flexible production plants achieve the largest relative added values for multi-market sales, and has the largest benefit from a long horizon with perfect foresight. View Full-Text
Keywords: hydropower; multi-market; case study; optimization; trading hydropower; multi-market; case study; optimization; trading
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Fodstad, M.; Aarlott, M.M.; Midthun, K.T. Value-Creation Potential from Multi-Market Trading for a Hydropower Producer. Energies 2018, 11, 16.

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