Abstract
A pumped storage power plant is being planned in the island of S. Miguel, Azores, as a way to accommodate an increasing share of renewable generation. With that purpose, an optimal schedule program of the whole system is simulated considering a moving window in a receding horizon, in which the operational rules established by the island's system operator are implemented. Given the stochastic nature of renewable sources and loads, this schedule has to be framed as a stochastic optimization problem with interrelated decision variables. The uncertainty originates from forecasting errors that are superimposed on simulated time series of load and wind generation, and this uncertainty is simulated as stochastic, normally distributed vectors of growing variance. The adequacy of the pumped storage power plant is assessed through statistical measures on lost load, lost reserve, and lost wind.
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