E-WORLD NEWS // Special Edition July 2018
Decision Trees GmbH is happy to announce that TIWAG-Tiroler Wasserkraft AG (TIWAG) has chosen DT.Energy as their new stochastic hydro and thermal optimization System. TIWAG, 100% owned by the federal state of Tyrol, is with more than 3000 GWh annual production one of the largest hydro power Generation companies in Austria.
The disruptive changes in energy markets due to the ongoing increase of renewable production imply that long term planning of large hydro power systems in the Alps becomes more and more challenging. In particular, the unbundling of the Austrian and German power markets increases planning uncertainty regarding power and balancing market prices in both marketplaces. Besides this, the uncertainty of natural reservoir inflows has to be dealt with.
TIWAG is convinced that the integrated stochastic planning system DT.Energy is very well suited to increase future profits in volatile energy markets based on stochastic optimization. It is capable to represent all relevant uncertain future impacts as well as provides detailed mathematical modelling of both, the physical hydro system as well as balancing and power markets. Using scenario trees of power prices, natural reservoir inflows, balancing power prices and balancing power demand, the quality of valuation of hydro resources is improved as compared to deterministic optimization.
DT.Energy provides cutting edge functionalities of DT.Energy in stochastic hydro system modelling, which are well proven in practice by a variety of other hydro power producers in the Alps. The powerful stochastic optimization framework is embedded in a state-of-the-art and easy to handle software system. It offers a completely redesigned graphical user interface with great topology visualization, powerful time series management, system import and export functionalities as well as automation features combined with great system security. DT.Energy will help TIWAG to not only increase profits in uncertain electricity markets but also facilitate the daily work of users to control and manage their hydro system.