Abstract:Power producers with flexible production systems such as hydropower may sell their output in the day-ahead and balancing power markets. We present how the coordination of trades across multiple markets may be described as a stochastic program. Focus is on how the information structure inherent in the multi-market setting is represented through the scenario tree and mathematical modelling. In the model, each market is represented by a price or premium and an upper limit on the volume that can be traded at the g… Show more
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