Technical Papers
Sep 27, 2013

Nonlinear Reservoir Optimization Model with Stochastic Inflows: Case Study of Lake Tenkiller

Publication: Journal of Water Resources Planning and Management
Volume 141, Issue 1

Abstract

This study is primarily concerned with the planning and management of a multipurpose reservoir. An economic stochastic optimization model is developed and solved to maximize the net economic benefits derived from marketed urban and rural water supply, hydropower generation, and nonmarketed lake recreation uses with consideration of stochastic inflows. Unlike most studies including nonmarket benefits, both the value of a single-day visit and the number of visits as functions of lake level. Results show that for Lake Tenkiller, when recreational benefits are included, it is beneficial to maintain high lake levels until mid-August, and then start drawing down for hydropower generation. A sensitivity analysis is also performed with different values of visits and peak electricity prices. The sensitivity analysis results show a benefit gained by managing the lake’s level to protect recreational activities; and that this gain is positive for several different potential scenarios, showing this conclusion is robust.

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Acknowledgments

The authors are grateful to Oklahoma Water Resources Research Institute (OWRRI), Oklahoma Water Resources Board (OWRB), and U.S. Geological Survey (USGS) for financially supporting this research work. We also thank anonymous reviewers and the associate editor for their suggestions that improved the technical details and clarity of this paper.

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Go to Journal of Water Resources Planning and Management
Journal of Water Resources Planning and Management
Volume 141Issue 1January 2015

History

Received: Jul 4, 2012
Accepted: Sep 25, 2013
Published online: Sep 27, 2013
Discussion open until: Dec 7, 2014
Published in print: Jan 1, 2015

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Authors

Affiliations

Deepayan Debnath [email protected]
Postdoctoral Fellow, Food and Agricultural Policy Research Institute, Univ. of Missouri, Columbia, MO 65203 (corresponding author). E-mail: [email protected]
Tracy A. Boyer [email protected]
Associate Professor, Dept. of Agricultural Economics, Oklahoma State Univ., Stillwater, OK 74078. E-mail: [email protected]
Arthur L. Stoecker [email protected]
Associate Professor, Dept. of Agricultural Economics, Oklahoma State Univ., Stillwater, OK 74078. E-mail: [email protected]
Larry D. Sanders [email protected]
Professor, Dept. of Agricultural Economics, Oklahoma State Univ., Stillwater, OK 74078. E-mail: [email protected]

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