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FIGURE 8.14 Scenario tree.

As in the stochastic optimization problem only the energy product is considered, superscript “E” denoting the energy market product in the deterministic formulation is omitted from the above expressions to simplify notation.

The stochastic optimization problem of the power company is also subject to the unit operating constraints considered for the respective deterministic problems. Therefore, constraints 8.11 through 8.48 (thermal system) as well as 8.23 through 8.27, 8.41, 8.42, 8.49 through 8.63, 8.65 through 8.68, and 8.81 through 8.83 (hydro system) must be also added to the model formulation. In these constraints, ...

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