Optimal Allocation of Hydroelectric Resources for Bulk Energy Sales

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Abstract

A recursive optimization model is developed to determine the optimal allocation of hydroelectric resources to energy intensive industry or for bulk energy sales, when the energy price is known. The modeling framework assumes that untapped resources are available as a set of hydroelectric projects to be developed in a sequence. With a specified (a) energy price, (b) forecast for general electricity demand and (c) the cost structure of the resources, the model optimizes the total revenue from both bulk sales and the general market by allocating a certain fraction of the hydro capacity to bulk sales. The results are an indication of the economical exploitation of hydro resources
Original languageEnglish
Title of host publicationProceedings of NOAS 95
Subtitle of host publicationThe 1995 Nordic Operations Analysis Conference
Place of PublicationReykjavik
Publication statusPublished - 1 Aug 1995

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