Water values in future power markets
Chapter, Peer reviewed
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Date
2017Metadata
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Original version
12th IEEE Power and Energy Society PowerTech Conference PowerTech Manchester 2017Abstract
In this paper we elaborate on how a hydropower producer's expected marginal value of water (water value) is affected when considering both sales of energy and reserve capacity in a liberalized market setting. We derive analytical expressions for the water value in this market context, and verify these through numerical computations. We find that the water values are more sensitive to changes in the reservoir level when considering sales of both energy and reserve capacity compared to the energy-only case.