Two major objectives in operating the multireservoir system of the Upper Colorado River basin are maximization of hydroelectric power production and maximization of the reliability of annual water supply. These two objectives conflict. Optimal operation of the reservoir system to achieve both is unattainable. This paper seeks the best compromise solution for an aggregated reservoir as a surrogate of the multireservoir system by using two methods: the constraint method and the method of combined stochastic and deterministic modeling. Both methods are used to derive the stationary optimal operating policy for the aggregated reservoir by using stochastic dynamic programming but with different objective functions and minimum monthly release constraints. The resulting operating policies are then used in simulated operation of the reservoir with historical inflow records to evaluate their relative effectiveness. The results show that the policy obtained from the combination method would yield more hydropower production and higher reliability of annual water supply than that from the constraint-method policy.
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