A multi-objective stochastic approach to hydroelectric power generation scheduling

In this paper, we propose a novel stochastic approach to multi-objective optimization of hydroelectric power generation short-term scheduling. Maximization of profit is chosen as the main objective with additional sub-objective-to reduce the number of startups and shutdowns of generating units. The random nature of future electricity prices and river water inflow is taken into account. We use an artificial neural network-based algorithm to forecast market prices and water inflow. Uncertainty modeling is introduced to represent the stochastic nature of parameters and to solve the short-term optimization problem of profit-based unit commitment. A case study is conducted on a real-world hydropower plant to demonstrate the feasibility of the proposed algorithm by providing the power generation company with the day-ahead bidding strategy under market conditions and a Pareto optimal hourly dispatch schedule of the generating units.