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Noninvasive Test Scheduling in Live Electricity Markets at Transpower New Zealand

Author

Listed:
  • Steve Batstone

    (Whiteboard Energy, Auckland, New Zealand 1143; and Sapere Research Group, Auckland, New Zealand 1140)

  • Geoff Pritchard

    (Department of Statistics, University of Auckland, Auckland, New Zealand 1010)

  • Golbon Zakeri

    (Department of Engineering Science, University of Auckland, Auckland, New Zealand 1010)

Abstract

In 2013, Transpower New Zealand commissioned a new high-voltage, direct current link to transfer electrical power between the North and South Islands of New Zealand. This was a substantial and prolonged undertaking, requiring approximately 400 in-situ capability tests. Transpower elected to perform these tests “live,” without suspending the normal operation of the wholesale electricity market. Instead, Transpower’s trading team attempted to create suitable flow conditions for each test by entering into innovative financial derivative contracts with power generation firms. We created a stochastic dynamic programming model to handle the contingent scheduling of the tests; its most important random variable was the state of water storage available to hydropower plants.

Suggested Citation

  • Steve Batstone & Geoff Pritchard & Golbon Zakeri, 2016. "Noninvasive Test Scheduling in Live Electricity Markets at Transpower New Zealand," Interfaces, INFORMS, vol. 46(6), pages 482-492, December.
    • Handle: RePEc:inm:orinte:v:46:y:2016:i:6:p:482-492
    DOI: 10.1287/inte.2016.0865
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