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dc.contributor.authorFleten, Stein-Erik
dc.contributor.authorKaut, Michal
dc.contributor.authorMidthun, Kjetil Trovik
dc.contributor.authorPérez-Valdés, Gerardo A
dc.date.accessioned2020-12-30T11:07:11Z
dc.date.available2020-12-30T11:07:11Z
dc.date.created2018-05-07T08:54:22Z
dc.date.issued2018
dc.identifier.issn1868-3967
dc.identifier.urihttps://hdl.handle.net/11250/2721115
dc.description.abstractWe present a literature survey and research gap analysis of mathematical and statistical methods used in the context of optimizing bids in electricity markets. Particularly, we are interested in methods for hydropower producers that participate in multiple, sequential markets for short-term delivery of physical power. As most of the literature focus on day-ahead bidding and thermal energy producers, there are important research gaps for hydropower, which require specialized methods due to the fact that electricity may be stored as water in reservoirs. Our opinion is that multi-market participation, although reportedly having a limited profit potential, can provide gains in flexibility and system stability for hydro producers. We argue that managing uncertainty is of key importance for making good decision support tools for the multi-market bidding problem. Considering uncertainty calls for some form of stochastic programming, and we define a modelling process that consists of three interconnected tasks; mathematical modelling, electricity price forecasting and scenario generation. We survey research investigating these tasks and point out areas that are not covered by existing literature.en_US
dc.language.isoengen_US
dc.publisherSpringeren_US
dc.subjectHydropoweren_US
dc.subjectMulti-marketen_US
dc.subjectShort-term physical biddingen_US
dc.titleHydropower Bidding in a Multi-Market Settingen_US
dc.title.alternativeHydropower Bidding in a Multi-Market Settingen_US
dc.typePeer revieweden_US
dc.typeJournal articleen_US
dc.description.versionacceptedVersionen_US
dc.rights.holderThis is a post-peer-review, pre-copyedit version of an article published in Energy Systems. The final authenticated version is available online at: https://link.springer.com/article/10.1007/s12667-018-0291-yen_US
dc.source.pagenumber543–565en_US
dc.source.volume10en_US
dc.source.journalEnergy Systems, Springer Verlagen_US
dc.identifier.doihttps://doi.org/10.1007/s12667-018-0291-y
dc.identifier.cristin1583757
cristin.unitcode7401,60,20,0
cristin.unitnameAnvendt økonomi
cristin.ispublishedtrue
cristin.fulltextpreprint
cristin.qualitycode1


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