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Value of perfect information of spot prices in the joint energy and reserve hourly scheduling of pumped storage plants

M. Chazarra, J.I. Pérez-Díaz, J. García-González

The value of perfect information of the day-ahead energy prices is studied in the context of the operation of a closed-loop and daily-cycle pumped-storage hydropower plant, participating in the spot market as a price-taker and in the secondary regulation reserve market as a price-maker. The impact of the real-time use of the regulation reserves is also taken into account. Results show that the value of perfect information of the spot prices in the Iberian electricity market decreases if the plant also participates in the secondary regulation service. Several novel indicators to better explain the value of perfect information are presented and evaluated. Finally, several regression models to roughly estimate the value of perfect information of any price forecasting model are obtained. These might help to evaluate the investment in pumped-storage hydropower plants.


Palabras clave: Pumped-storage plant; Secondary regulation service; Price forecasting; Value of perfect information


Electric Power Systems Research. Volumen: 148 Páginas: 303-310

Índice de impacto JCR y cuartil WoS: 2.856 - Q2 (2017); 3.022 - Q2 (2018)

Referencia DOI: DOI icon 10.1016/j.epsr.2017.03.015    

Publicado en papel: Julio 2017. Publicado on-line: Abril 2017.



Cita:
M. Chazarra, J.I. Pérez-Díaz, J. García-González. Value of perfect information of spot prices in the joint energy and reserve hourly scheduling of pumped storage plants. Electric Power Systems Research. vol. 148, pp. 303-310, Julio 2017. [Online: Abril 2017]


    Líneas de investigación:
  • *Programación de la Operación a Corto Plazo, Elaboración de Ofertas y Análisis de Reservas de Operación

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