Optimizing storage operations in longer-term power system models

Abstract

In a rapidly changing power system the proper characterization of storage behavior becomes an increasingly important issue. We propose a new formulation to capture storage behavior in medium -and long -term power system models that use a load duration curve. In such models the chronology among individual hours is lost; our approach addresses related shortcomings and is able to accurately replicate hourly evolution of storage levels while keeping computational time tractable.