Abstract
When the water supply capacity of the reservoir is small, hedge rule (HR) can be applied to reduce the risk of unacceptably large damage from water shortage during drought. Moreover, in water-receiving areas of water diversion project, it is important to reduce transfer based on HR when the water-receiving area is in a wet period so as to reduce the water transfer cost. This paper improved the traditional HR and proposed a new kind of hedging rule named joint hedging rule (JHR). JHR was applied to Yuqiao Reservoir of Tianjin in China and was compared with HR and standard operation policy (SOP) as two control groups. The result indicates that JHR performs better than HR and SOP, which cannot only mitigate the risk of unacceptably large damage from water shortage by one hedge process but also reduce the transferred water by another hedge process. In addition, the number of days of different water shortage, the storage ratio at the end of the year, and transferred water result indicates that JHR is of high reliability and practicability.
Highlights
Over the past decades, solving reservoir operation problems has been a challenge for water resource planners and managers
In order to reduce the cost of water transfer, the novelty of joint hedging rule (JHR) proposed in this paper is that compared with the traditional hedging rule, when the local reservoir has a large amount of water available, JHR changes the water supply of external water and local water
According to hedge rule (HR) and JHR, the reservoir’s supply would be limited when the supply capacity is small, and the rest needs to be satisfied by the transferred water
Summary
Over the past decades, solving reservoir operation problems has been a challenge for water resource planners and managers. Usingof the hedging rules with rulewater curves, a balance can be achieved a sufficient amount water remains inalong storage for the future supply This situation creates a between water supply shortage anddemands the storage objectives. There is no research to hedging rules in the situation when the transferred water does not flow into large local reservoirs In response to this situation, this paper improved HR and proposed a new kind of hedging rule named joint hedging rule (JHR) and researched the lower boundary of JHR’s hedge rate which would cause a water shortage. In order to reduce the cost of water transfer, the novelty of JHR proposed in this paper is that compared with the traditional hedging rule, when the local reservoir has a large amount of water available, JHR changes the water supply of external water and local water. The performance indicates that JHR can reduce the damage from shortage and increase the reservoir’s storage at the end of the year as well as reduce transferred water
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