Abstract

The liberalization of the electricity market in Ukraine and the increasing share of renewable energy sources have significantly changed the operating conditions for hydropower plants (HPPs). In this context, effective participation of HPPs in competitive market segments requires the adoption of advanced strategic management approaches that account for market volatility, regulatory constraints, and the inherent flexibility of hydropower generation. This study investigates strategic management frameworks for optimizing the participation of hydropower plants in the Ukrainian electricity market. The proposed approach integrates market price analysis, operational constraints of hydropower units, and water resource management considerations to support informed decision-making across different market segments, including the day-ahead, intraday, and balancing markets. Attention is given to the role of hydropower plants in enhancing system flexibility, mitigating imbalance risks, and supporting grid stability under conditions of growing variable renewable generation. The results demonstrate that strategic coordination of bidding, generation scheduling, and reservoir operation can improve economic performance while maintaining compliance with technical and environmental constraints.

Keywords: hydropower plants, electricity market, strategic management, market participation, generation scheduling

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