Hello all,
This is my first time posting as well as my first time using GAMS as well as learning about Operations Research. I am trying to wrap my head around formulating an optimization problem for a hydro power plant.
My objective is to maximize the revenues of such a plant that sells its electricity on the market. My knowns are:
-Hourly inflows to the reservoir (in[t]) - 24 hours with a value for each hour
-Hourly prices at the market (p[t]) - 24 hours with a value for each hour
-minimum flow needed (min_flow >= 1)
-maximum generation capacity of plant per hour (max_gen[t] <= 70)
-maximum storage of the reservoir (max_stor <= 200)
I've currently spent a full day trying to formulate a mathematical description for this problem so I can try to write it into GAMS but so far have come up with close to nothing.
So far I'm trying to come up with hourly generation (g[t]) as: SUM(in[t]) - (max_stor + max_gen[t]) -> sum of the total inflow into the reservoir but taking into account the maximum storage capacity of the reservoir with the total that can go through for generation per hour, however this does not quite make sense to me so I'm trying to think of another approach.
I know it needs to look something like: MAX z = total inflow of each hour minus the max_stor with the max_gen per hour times the price per unit for each hour
s.t. min_flow >= 1, max_gen[t] <= 70, max_stor <= 200
If anyone has any advice on how to approach this or any resources they recommend, it would be greatly appreciated.
Thanks in advance!