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A Stochastic Fluid Flow Model of the Operation and Maintenance of Power Generation Systems

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3 Author(s)
Bean, N.G. ; Sch. of Math. Sci., Univ. of Adelaide, Adelaide, SA, Australia ; O'Reilly, M.M. ; Sargison, J.E.

A tool to inform strategic decision making on electricity market bidding prices, based on prediction of long-term system operation, degradation, and maintenance, is described. The operation and maintenance of a hydro-power generation system is modeled using a bounded stochastic fluid flow model with special behavior at the boundaries. The stationary distribution for the model and useful time-dependent performance measures are derived. The application potential of the model is illustrated through a practical industry-derived example modeling the operation of a hydro-power generator, in which a number of operation strategies are compared using several performance measures.

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Power Systems, IEEE Transactions on  (Volume:25 ,  Issue: 3 )