Optimal scheduling and benefit sharing of hybrid pumped storage hydropower plants with multiple operators

Retrofitting cascade hydropower stations (CHPs) with pumped storage units (PSs) to form hybrid pumped storage hydropower plants (HPSHs) can effectively mitigate peaking pressures on power systems. However, the multi-stakeholder structure of CHPs greatly limits the regulatory flexibility of HPSHs. To conquer the issue, a multi-timescale peak-shaving operation strategy and an internal benefit allocation mechanism for HPSHs involving multiple stakeholders are proposed. First, a joint scheduling model is developed to optimize the peak-shaving operation of HPSHs across both mid-long and short-term timescales, guided by electricity price signals. The operational impacts of PSs on the power generation and economic returns of CHPs are then quantitatively assessed. Finally, a benefit compensation framework is designed using the Shapley value method to allocate profits among multiple generation entities within HPSHs. It was found that: (1) the proposed price-driven multi-timescale scheduling model enhances the peak-shaving capability of HPSHs across both mid-long and short-term horizons. (2) PSs operations increase the power generation and revenue of the upstream station by 0.04 % and 0.03 %, respectively, while the downstream station experiences a 0.42 % reduction in output but sees a 0.50 % increase in profitability; (3) equitable allocation of joint scheduling benefits improves the profits of upstream and downstream hydropower stations by 6 % and 19.5 %, respectively, thereby enhancing their willingness to engage in coordinated scheduling with PSs.