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Operation strategies of pumped storage hydropower plants under electricity spot market: case study of Uluabat hydropower plant

Turan, Alper
In recent years, energy has been one of the most challenging problems around the world. In particular, energy is the building block for commercial and social settings in the modern world. Therefore, energy is a critical element for economic and human development. Diminishing fossil fuel resources and detrimental effects of facilities operated on fossil fuels have brought forward renewable energy today, and renewable energy resources will continue to play a significant role in the future. However, renewable energy sources are unable to adjust their output to meet fluctuating power demands. In other words, the integration of renewable energy resources into the grid is a concern since the renewable sources have an intermittent nature. This intermittent nature of most renewable energy sources makes them less advantageous. Significantly large energy storage capacity is required to balance power production and demand. Pumped Storage Hydropower Plant (PSHP) technology is accepted to be an efficient and economical way of storing energy obtained from intermittent energy resources. Variety of optimization methods were established in order to evaluate the advantages of PSHPs in the literature. However, detrimental environmental impacts of PSHP and high investment cost are still unfavorable aspects of PSHP. Therefore, the installation of PSHPs on the existing hydropower infrastructure is a more beneficial option that vi eliminates aforementioned disadvantages of PSHPs. In this study, an existing conventional hydropower plant that diverts turbined water to a natural lake is hypothetically transformed to a PSHP. A generation schedule that maximizes the revenue of PSHP due to oscillations in electricity prices is proposed using historical water inflows to the reservoir and electricity prices under different reservoir management strategies. The optimization study is based on hourly time steps and performed for each water year from 2013 to 2018. The results guide Generation Company (GenCo) to develop operation strategies under the assumption that variations in these five years will be similar to those that will be experienced in the near future. The results are compared with revenues of the optimized generation schedule of the conventional hydropower plant and the actual generation realized between 2013 and 2018 as well.