Optimal energy portfolio allocation method for regulable hydropower plants considering the impact of new energy generation

With the growing penetration of new energy sources, impact generation on income portfolio is becoming more significant. This paper proposes a risk measurement method based Conditional Value-at-Risk (CVaR) approach to measure from portfolio. The superiority proved by comparing it with only considering spot price fluctuations. Then, we constructed an allocation model hydropower plant maximize combined income-risk utility. In solving optimal portfolio, effects inflow and water level aversion parameters are considered. results comparison show that proposed increases 12%, parameter’s adjustment strategy can increase 5.8% reduces CVaR value 14.5%. Moreover, considers provide favorable conditions for improved accommodation safe operation system.