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AbsIrad -The paper considers a flexible forward contract implementation in the market environment.A market participant is able to draw electricity from the forward contract and resell it to the spot or retail market. Several stochastic optimization problems are presented for the flcrible fomard contract scheduling. A dynamic programming scheme is described for the problem solving. A no-arbitrage principle is applied for the contract pricing. The numerical example demonstrates a procedure for the bidding curve construction, which is useful for making the contraet arrangement.

A technique for long-term generation scheduling is proposed for power systems with hydro power plants (HPPs). A mathematical formulation of the problem supposes the application of dynamic programming method. The results of yearly generation scheduling in the Electric power system (EPS) of Siberia show strong dependence of the total fuel cost on the optimal monthly electricity production by individual HPPs. The prices of the electricity generated during a year and under different water conditions are calculated for power plants of the EPS of Siberia. The possibility of implementing the long-term optimal generation schedules at power plants by setting the electricity prices is shown.

Bilateral contracts are widely applied in competitive electricity markets. Contract parties should distribute electricity deliveries by time intervals during a contract period in an optimal way to get the highest profit and to elaborate a strategy of participating in the spot and retail markets. The statement of the stochastic optimization problems is presented for delivery scheduling. Game theory application is considered for the contract arrangement. A criterion for Nash point determination is proposed. A compromise in determination of the delivery strategy consists in equality of relative concessions of the contract parties. Numerical examples illustrate the properties of optimization problems for contract scheduling and procedures for contract value and contract volume determination.

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