IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v18y2025i7p1762-d1625732.html
   My bibliography  Save this article

Optimal Economic Dispatch Strategy for Cascade Hydropower Stations Considering Electric Energy and Peak Regulation Markets

Author

Listed:
  • Fan Liu

    (School of Electrical and Electronic Engineering, Hubei University of Technology, Wuhan 430068, China
    Hubei Key Laboratory for High-Efficiency Utilization of Solar Energy and Operation Control of Energy Storage System, Hubei University of Technology, Wuhan 430068, China)

  • Wentao Huang

    (School of Electrical and Electronic Engineering, Hubei University of Technology, Wuhan 430068, China
    Hubei Key Laboratory for High-Efficiency Utilization of Solar Energy and Operation Control of Energy Storage System, Hubei University of Technology, Wuhan 430068, China)

  • Jingjing Ma

    (School of Electrical and Electronic Engineering, Hubei University of Technology, Wuhan 430068, China
    Hubei Key Laboratory for High-Efficiency Utilization of Solar Energy and Operation Control of Energy Storage System, Hubei University of Technology, Wuhan 430068, China)

  • Jun He

    (School of Electrical and Electronic Engineering, Hubei University of Technology, Wuhan 430068, China
    Hubei Key Laboratory for High-Efficiency Utilization of Solar Energy and Operation Control of Energy Storage System, Hubei University of Technology, Wuhan 430068, China)

  • Can Lv

    (School of Electrical and Electronic Engineering, Hubei University of Technology, Wuhan 430068, China
    Hubei Key Laboratory for High-Efficiency Utilization of Solar Energy and Operation Control of Energy Storage System, Hubei University of Technology, Wuhan 430068, China)

  • Yukun Yang

    (School of Electrical and Electronic Engineering, Hubei University of Technology, Wuhan 430068, China
    Hubei Key Laboratory for High-Efficiency Utilization of Solar Energy and Operation Control of Energy Storage System, Hubei University of Technology, Wuhan 430068, China)

Abstract

With the evolution of the power market and the increase in the new energy penetration rate, the power industry will present diversified characteristics. The continuous development of the electric energy market (EEM) and the peak regulation market (PRM) is also affecting the economic benefits of cascade hydropower stations, in which the EEM, as a market for electric energy trading in the power market, develops synergistically with the PRM and creates the conditions for the consumption of new energy sources; for this reason, this paper, while considering the benefits of cascade hydropower stations in the EEM in different time scales and the impact of the spot market, combines the compensation mechanism and apportionment principle of the PRM. This paper proposes an optimal economic scheduling strategy for cascade hydropower stations. Specifically, firstly, the strategy adopts multi-objective optimization. The objective function takes into account the generation capacity of the cascade hydropower stations, the benefits of the EEM, the influence of the spot market, the compensatory benefits of peaking, and the sharing expenses of peaking; secondly, the constraints at the level of the power grid, the level of the cascade hydropower stations, and the level of the market are taken into account comprehensively, and the Harris Hawk Algorithm is used to solve the model; lastly, by comparing different schemes, it is observed that under varying inflow conditions, the proposed dispatch strategy in this paper yields slightly lower revenue in the EEM than other schemes. However, due to its comprehensive consideration of the synergy between the PRM and the EEM, its overall economic benefits surpass those of other schemes. This fully validates the effectiveness and economic efficiency of the proposed dispatch strategy.

Suggested Citation

  • Fan Liu & Wentao Huang & Jingjing Ma & Jun He & Can Lv & Yukun Yang, 2025. "Optimal Economic Dispatch Strategy for Cascade Hydropower Stations Considering Electric Energy and Peak Regulation Markets," Energies, MDPI, vol. 18(7), pages 1-23, April.
    • Handle: RePEc:gam:jeners:v:18:y:2025:i:7:p:1762-:d:1625732
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/18/7/1762/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/18/7/1762/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Yuanyuan Liu & Hao Zhang & Pengcheng Guo & Chenxi Li & Shuai Wu, 2024. "Optimal Scheduling of a Cascade Hydropower Energy Storage System for Solar and Wind Energy Accommodation," Energies, MDPI, vol. 17(11), pages 1-23, June.
    2. Štefan Bojnec, 2023. "Electricity Markets, Electricity Prices and Green Energy Transition," Energies, MDPI, vol. 16(2), pages 1-4, January.
    3. Zhao, Mingzhe & Wang, Yimin & Wang, Xuebin & Chang, Jianxia & Chen, Yunhua & Zhou, Yong & Guo, Aijun, 2022. "Flexibility evaluation of wind-PV-hydro multi-energy complementary base considering the compensation ability of cascade hydropower stations," Applied Energy, Elsevier, vol. 315(C).
    4. Yuan, Wenlin & Zhang, Shijie & Su, Chengguo & Wu, Yang & Yan, Denghua & Wu, Zening, 2022. "Optimal scheduling of cascade hydropower plants in a portfolio electricity market considering the dynamic water delay," Energy, Elsevier, vol. 252(C).
    5. Zhu, Yanmei & Zhou, Yerong & Tao, Xiangming & Chen, Shijun & Huang, Weibin & Ma, Guangwen, 2024. "A new clearing method for cascade hydropower spot market," Energy, Elsevier, vol. 289(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wang, Jin & Zhao, Zhipeng & Zhou, Jinglin & Cheng, Chuntian & Su, Huaying, 2024. "Co-optimization for day-ahead scheduling and flexibility response mode of a hydro–wind–solar hybrid system considering forecast uncertainty of variable renewable energy," Energy, Elsevier, vol. 311(C).
    2. Tan, Qinliang & Han, Jian & Liu, Yuan, 2023. "Examining the synergistic diffusion process of carbon capture and renewable energy generation technologies under market environment: A multi-agent simulation analysis," Energy, Elsevier, vol. 282(C).
    3. Rongqi Zhang & Shanghong Zhang & Xiaoxiong Wen & Zhu Jing, 2023. "Refined Scheduling Based on Dynamic Capacity Model for Short-term Hydropower Generation," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 37(1), pages 21-35, January.
    4. Wang, Jin & Zhao, Zhipeng & Zhou, Jinglin & Cheng, Chuntian & Su, Huaying, 2024. "Developing operating rules for a hydro–wind–solar hybrid system considering peak-shaving demands," Applied Energy, Elsevier, vol. 360(C).
    5. Daohong Wei & Chunpeng Feng & Dong Liu, 2025. "Research on Economic Operation of Cascade Small Hydropower Stations Within Plants Based on Refined Efficiency Models," Energies, MDPI, vol. 18(4), pages 1-18, February.
    6. Huang, Mengdi & Chang, Jianxia & Guo, Aijun & Zhao, Mingzhe & Ye, Xiangmin & Lei, Kaixuan & Peng, Zhiwen & Wang, Yimin, 2023. "Cascade hydropower stations optimal dispatch considering flexible margin in renewable energy power system," Energy, Elsevier, vol. 285(C).
    7. Yin, Linfei & Ge, Wei, 2024. "Mobileception-ResNet for transient stability prediction of novel power systems," Energy, Elsevier, vol. 309(C).
    8. Luo, Xiaolin & Huang, Li & Sui, Xin, 2025. "Capacity optimization of existing reservoir hydropower expansion and its impact on power system flexibility," Applied Energy, Elsevier, vol. 377(PD).
    9. Xu, Shitian & Liu, Pan & Li, Xiao & Cheng, Qian & Liu, Zheyuan, 2023. "Deriving long-term operating rules of the hydro-wind-PV hybrid energy system considering electricity price," Renewable Energy, Elsevier, vol. 219(P1).
    10. Sun, Jianyang & Su, Chengguo & Song, Jingchao & Yao, Chenchen & Ren, Zaimin & Sui, Quan, 2025. "Capacity planning for large-scale wind-photovoltaic-pumped hydro storage energy bases based on ultra-high voltage direct current power transmission," Energy, Elsevier, vol. 320(C).
    11. Sergej Gričar & Nemanja Lojanica & Saša Obradović & Štefan Bojnec, 2023. "Unlocking Sustainable Commuting: Exploring the Nexus of Macroeconomic Factors, Environmental Impact, and Daily Travel Patterns," Energies, MDPI, vol. 16(20), pages 1-27, October.
    12. Jing, Zhiqiang & Wang, Yimin & Chang, Jianxia & Wang, Xuebin & Guo, Aijun & Meng, Xuejiao, 2025. "Hydro-wind-PV-storage complementary operation based on a multivariate 3D power generation database considering comprehensive utilization tasks of cascade hydropower stations in the river basin," Energy, Elsevier, vol. 322(C).
    13. Zhang, Junhao & Guo, Aijun & Wang, Yimin & Chang, Jianxia & Wang, Xuebin & Wang, Zhen & Tian, Yuyu & Jing, Zhiqiang & Peng, Zhiwen, 2024. "How to achieve optimal photovoltaic plant capacity in hydro-photovoltaic complementary systems: Fully coupling long-term and short-term operational modes of cascade hydropower plants," Energy, Elsevier, vol. 313(C).
    14. Huo, Zhishuo & Zhang, Juntao & Cheng, Chuntian & Cao, Hui & Yang, Yuqi, 2025. "A synergistic model framework for identifying variable renewable energy integration capacity and deployment sites for hydro-wind-PV integrated energy bases," Energy, Elsevier, vol. 314(C).
    15. Yang Li & Ni Fang & Shengming He & Feng Wu & Outing Li & Linjun Shi & Renshan Ding, 2024. "Two-Stage Stochastic Scheduling of Cascaded Hydropower–Wind–Photovoltaic Hybrid Systems Considering Contract Decomposition and Spot Market," Sustainability, MDPI, vol. 16(3), pages 1-19, January.
    16. Han, Shuo & Yuan, Yifan & He, Mengjiao & Zhao, Ziwen & Xu, Beibei & Chen, Diyi & Jurasz, Jakub, 2024. "A novel day-ahead scheduling model to unlock hydropower flexibility limited by vibration zones in hydropower-variable renewable energy hybrid system," Applied Energy, Elsevier, vol. 356(C).
    17. Huang, Nantian & Zhao, Xuanyuan & Guo, Yu & Cai, Guowei & Wang, Rijun, 2023. "Distribution network expansion planning considering a distributed hydrogen-thermal storage system based on photovoltaic development of the Whole County of China," Energy, Elsevier, vol. 278(C).
    18. Wu, Zhiyuan & Fang, Guohua & Ye, Jian & Huang, Xianfeng & Yan, Min, 2024. "Optimizing ecological benefits in weekly-regulated hydropower plants: A framework integrating power market information," Renewable Energy, Elsevier, vol. 231(C).
    19. He, Mengjiao & Han, Shuo & Chen, Diyi & Zhao, Ziwen & Jurasz, Jakub & Mahmud, Md Apel & Liu, Pan & Deng, Mingjiang, 2024. "Optimizing cascade Hydropower-VRE hybrid systems: A novel approach addressing whole-process vibration to enhance operational safety," Energy, Elsevier, vol. 304(C).
    20. Li, Junhui & Yu, Zhenbo & Mu, Gang & Li, Baoju & Zhou, Jiaxu & Yan, Gangui & Zhu, Xingxu & Li, Cuiping, 2024. "An assessment methodology for the flexibility capacity of new power system based on two-stage robust optimization," Applied Energy, Elsevier, vol. 376(PB).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:18:y:2025:i:7:p:1762-:d:1625732. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.