Dr. Antony Ware, the Graduate Director of Department of Mathematics and Statistics of the University of Calgary, presented last Thursday, March 02, 2017. He presented an industrial project about hydropower valuation that he had worked before.

Basically, the presentation was regarding maximizing the long-term value of hydropower generation subject to variable constraints on outflows and exposure to possibly wildly varying power prices. He used a stochastic dynamic programming approach to the quantification of reservoir reliability, for instance, measures of the risk of over-topping the reservoir or failing to satisfy downstream flow requirements, and a related approach to determining the reservoir flow strategy that maximizes expected revenue, subject to defined target reliability levels.