Speaker
Description
In the era of energy transition, the quest of sustainability has accelerated the integration of renewable sources, highlighting the critical role of energy storage in enhancing the system’s flexibility. Within this circumstances, shared energy storage emerges as a crucial concept necessitating coordination for optimized operation of its different owners. Typical hydropower systems comprise several power plants often subject to joint ownership of shared energy storage. To efficiently deal with the challenge of handling different supply purposes in up and downstream reservoirs, a coordination mechanism is needed. This study analyzes an interesting coordination mechanism where virtual individual reservoir levels and power swaps are elements that contributes to ensuring fair utilization of the shared resources whilst respecting the concern of operating independently. Through developing a new stochastic programming model for bid optimization, we explore the economic impacts of our approach. Our findings highlight the mechanism's robustness to different operational strategies of stakeholders, its capacity to generate stable outcomes, and the economic feasibility. We contribute to the literature of sustainable management of shared hydropower resources which can be applied in other cases.
