Energy storage bidding network

What is a joint energy-reserve procurement strategy?

Market operators use either sequential or joint energy-reserve procurement strategies. Joint markets clear energy and reserves simultaneously, accounting for interdependencies, using UC optimization at the unit level . Examples include U.S. markets such as PJM, CAISO, ERCOT, MISO, and NYISO , .

How does transmission congestion affect the Bess bidding strategy?

The introduction of transmission congestion brings significant changes in market dynamics. Since the BESS does not have sufficient power output capacity to fully maintain demand block 1 online during congestion, curtailment occurs, and our methodology adjusts the BESS bidding strategy accordingly.

How does reconnection of demand Block 1 affect energy prices?

The energy price increases from 22:00 to 24:00 as result of the reconnection of demand block 1 at hour 22:00, enabled by the semi-elastic load modeling approach. The reduction in the load of demand block 1 allows its reconnection while respecting the transmission network’s thermal limits.

Is there a non-classical method to optimal bidding strategies?

To the best of our knowledge, the only application of a non-classical method to optimal bidding strategies for BESSs is found in . In this study, the authors use a bi-level optimization framework that trains neural networks to maximize the profit of a BESS participating solely in the energy market.