%Aigaion2 BibTeX export von HES SO Valais Publications
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@PROCEEDINGS{,
     author = {Schillinger, Moritz and Weigt, Hannes and Barry, Michael and Schumann, Ren{\'{e}}},
   keywords = {Balancing, Cross-market optimization, hydro power, Switzerland},
      title = {Hydropower operation in a changing environment},
  booktitle = {Proceedings of the 14th International Conference on the European Energy Market (EEM)},
       year = {2017},
  publisher = {IEEE},
   abstract = {In Europe hydropower (HP) plays an important role in the energy transition by increasing its
generation while at the same time ensure system security by providing back-up and storage
capacity and flexibility. However, due to low electricity market prices the profitability of HP is
decreased. In this paper, we analyze historic revenue potentials and future market prospects
for hydropower taking into account different paths towards the energy future. We develop a
short-term HP operation model to capture both the market opportunities of HP companies
and the technical and natural constraints of the plants. The model framework is applied to
three generic HP plants which should be representative for Switzerland. Looking back into
the past, the electricity spot prices strongly decreased over the years. Consequently, the
revenues of HP plants in the spot market dropped significantly in the last years. However, in
theory balancing markets could provide significant additional revenues for HP plants. Taking
into account uncertainties and market characteristics the potential of the balancing markets is
reduced but cross-market optimization was still beneficial. Looking into the future, the market
price prospects for coming decade are low to modest and the existing EU capacity structure
will likely remain stable. The global fuel markets and the ETS will be the decision makers for
Swiss HP. The balancing market benefits will be significantly reduced in the future if full
Swiss HP aims for balancing. While optimized operation across markets helps Swiss HP to
increase its revenues, it is limited in scale.}
}