Integrated risk management of hydro power scheduling and contract management.

Integrated risk management of hydro power scheduling and contract management.

The paper describes the implementation of a new integrated tool for risk management in hydropower systems. Earlier practice in Scandinavia has been to separate operations scheduling and contract management. In the present approach operation scheduling and hedging by future contacts are integrated in...

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Bibliographic Details
Published in:IEEE Transactions on power systems 16, 2 (2001).
Main Author: Mo, B.
Format: Article
Language:English
Subjects:
Scandinavia.
Contract management.
Deregulated system.
Future contract portfolio.
Hedging.
Hydro power scheduling.
Hydropower systems.
Inflow uncertainty.
Integrated risk management.
Operations scheduling.
Price risks.
Revenue targets setting.
Revenue utility function.
Risk level control.
Stochastic dual dynamic programming.
Stochastic dynamic optimization.
Stochastic dynamic programming.