RP-2.4 Resource allocation and markets
RP-2.4 Hydropower resource allocation and markets
The value of flexibility in the electricity system is increasing and will require novel support tools for operation of hydropower plants. Hydropower flexibility currently helps balance both domestic and international power by controlling generation at the time needed. The dispatchable nature of hydropower enables supply into markets for day-ahead energy, intraday energy, as well as markets for ancillary services such as reserve capacity, reactive power, and black start capability.
A core activity for hydropower operators is the offering of capacity/energy into these markets, as well as planning and supervising the operations that is consistent with the market clearing. Therefore, there is a need to fortify the role of hydropower as a flexibility supplier considering market, regulatory, technical and environmental aspects. This project casts hydropower as a flexibility supplier considering multiple markets, supporting decisions in hydropower market operations.
The goal is to develop analyses and methods to support bidding aspects of hydropower operations. This also links to hydropower planning more generally, for example, regarding how to represent marginal water values, and to supply estimates for capacity upgrade projects or audits of concession terms.
