Modelling electricity portfolio management in Scandinavia

Electricity producers participating in the Scandinavian wholesale-level market face significant uncertainty in inflow to reservoirs and prices on t spot and contract markets. Takin g the view of a single risk-averse producer, a stochastic programming model for the coordination of physical generation resources with hedging through the forward market is proposed.The most common way of generatin stochastic price input data for such models is using the Multiarea Power Scheduling Model from SINTEF Energy Research. I will briefly present that mod el and the structure of the deregulated market.