Maping energy storage power station bidding

What is the proposed bidding strategy?

The proposed bidding strategy considers both energy market and regulation market, which shows flexibility to the uncertain bidding environments. The proposed algorithm is an individual profit maximisation bidding strategy, which can help the BESS owner optimise its bidding strategy to obtain highest bidding revenue without rivals information.

What is the proposed model of Bess bidding in pool based electricity market?

The proposed model of BESS bidding in the pool based electricity market is described in detail. The decision variables are the capacity bids in energy market b e, t, the capacity bids in AGC market b c, t u p and b c, t d o w n and the price bids in AGC market b p, t of the BESS for each hour in the next day. 4.1. Objective function

Does a Markovian based bidding model determine the optimised bidding strategy?

Therefore, this paper proposes a novel Markovian based bidding model that decides the optimised bidding strategy of the BESS in day-ahead energy and regulation markets, considering the charging/discharging losses and the ageing cost of the BESS.

What is the proposed bidding strategy of Bess owners?

The proposed bidding strategy of BESS owners considers both energy market and regulation market, which shows flexibility to the uncertain bidding environments, such as prior knowledge of other rivals and dynamics of the system operator.

How to meet transmission constraints in power system?

To meet the transmission constraints in power system, the BESS is required to hold enough energy to response the system operator for dispatch or reserves . Therefore, we consider that the BESS must maintain the output power level for at least h e for energy market and h r e g for regulation market .

Can a power supplier generate power if its offers are accepted?

A power supplier can only generate power if its offers are accepted. Otherwise, the extra penalties should be paid. The subscript ” t ” is the index of the hours in each day, since the bidding strategy is day-ahead with hourly bids in the wholesale electricity market.