In a medium-term electricity market,in order to reduce the risks of price and inflow uncertainties, the cascade hydropower stations may use the options contract with electricity supply companies. A profit-based model for risk management of cascade hydropower stations in the medium-term electricity market is presented. The objective function is profit maximization of cascade hydropower stations. In order to avoid the risks of price and inflow uncertainties, two different risk-aversion constraints: a minimum ...
In a medium-term electricity market, in order to reduce the risks of price and inflow uncertainties, the cascade hydropower stations may use the options contract with electricity supply companies. A profit-based model for risk management of cascade hydropower stations in the medium-term electricity market is presented. The objective function is profit maximization of cascade hydropower stations. In order to avoid the risks of price and inflow uncertainties, two different risk-aversion constraints: a minimum...