Hydropower with Constraints
The analysis in Chapter 2 concluded that the price should be the same for all time periods. However, even a superficial knowledge of electricity markets with a significant presence of hydropower tells us that electricity prices vary over seasons and even days. The hourly prices for the four winter - summer days, used in Figure 1.2 in Chapter 1 to show the electricity demand, are shown in Figure 3.1.
KeywordsPrice Change Demand Curve Shadow Price Reservoir Level Shadow Prex
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