42 / 52
42
Background
Våmartveit dam
Illustration of the Tokke-Vinje
Hydro power system
The main topic of this project has been to study the production scheduling of a hydro power
producer exposed to the day-ahead and balancing market. The objective was to find what
profit the producer may achieve by strategically bidding in the above mentioned markets.
The background for the thesis is the increasing penetration of renewable energy in the energy
sector. Hydro power flexibility can support a stable power balance, thus mitigating the effect
of intermittent energy.
A prototype model that undertakes this task has been developed by SINTEF Energy Research
as a part of their project ‘Integrating Balancing Markets in Hydro Power Scheduling Methods’.
To examine the potential profit a producer may gain by participating in the balancing market,
the model has been run with and without the balancing market included in the simulation.
The Tokke-Vinje hydro power system has been selected as a case study.
Master Thesis
Department of Electrical
Engineering
Optimal Hydro Power
Scheduling in Multiple Power
Markets
By Caroline Rasmussen
og Jakob Boye Hansen
Supervisor: Magnus Korpås
Co-supervisor: Marte Fodstad