Abstract
In this paper short-term planning algorithm for hybrid power system consist of different types of cascade hydropower plants (run-of-the river, pumped storage, conventional), thermal power plants (coal-fired power plants, combined cycle gas-fired power plants) and wind farms is presented. The optimization process provides a joint bid of the hybrid system, and thus making the operation schedule of hydro and thermal power plants, the operation condition of pumped-storage hydropower plants with the aim of maximizing profits on day ahead market, according to expected hourly electricity prices, the expected local water inflow in certain hydropower plants, and the expected production of electrical energy from the wind farm, taking into account previously contracted bilateral agreement for electricity generation. Optimization process is formulated as hourly-discretized mixed integer linear optimization problem. Optimization model is applied on the case study in order to show general features of the developed model.