Stochastic multi-stage hydro optimization: what is it, and how can it improve your predictive future? Download our white paper to find out!
Power systems that have both hydro-electric and thermal generation require a systematic and coordinated approach to determine an optimal storage management. The goal of a hydro-thermal planning tool is to minimize the expected thermal costs across the simulation period by dispatching hydro during high-value periods as much as possible. These types of problems generally require stochastic analysis to deal with inflow uncertainty, which increases the mathematical size of the problem and hence are often cumbersome to solve.
This white paper reviews the stochastic analysis algorithm in PLEXOS as applied to different hydro-dominated power systems.