Optimization of existing hydro storage facilities’ market participation
For a large generation and transmission utility operating in an RTO market, Brattle evaluated the historical energy and ancillary services market performance of a large multi-unit hydro-storage power plant. Using detailed simulations of regional market participation and statistical analysis of historical resource bids in these markets, we developed more optimal bidding strategies for the power plant. The improved bidding strategies cover energy and ancillary services in the day-ahead and real-time markets considering forecasting uncertainties. The selected strategy is forecasted to increase net plant revenues by 200 to 300% compared to historical revenue realizations.