Formulating benefit-optimization problem for hydroelectric generation and application for Nui Coc hydropower plant, Thai Nguyen province

Abstract

     This paper studies and analyzes the problem of optimizing economic profits for hydroelectric plant with variable head with reservoir and tries to apply analytical results to Nuicoc hydroelectric plant. The author has established various economic relationships such as production function, benefit function, etc in order to relate capacity of electric generation, electrical productions with economic values produced for the economy. The author also has developed numerical models by using Lingo Package (unlimited version 5.0) in order to get variuos numeral results compatible with practical obrservations at Nuicoc, Thainguyen province.