Risk-averse stochastic dual dynamic programming approach for the operation of a hydro-dominated power system in the presence of wind uncertainty

•We propose a methodology for the management of hydrodominated power systems coupled with wind energy and energy storage.•The methodology enables leveraging the reliability of the system against the short-term volatility of wind power.•The risk profile of the decision maker is taken into account in the operating cost and the load balance constraints.•The proposal is applied to the Colombian power system under different likely wind integration scenarios.