2014 grid energy storage bidding

Could a new bidding model help investor-owned battery storage?

This novel bidding model would help investor-owned battery storages better decide their bidding and operational schedules and investors to estimate the battery storage’s economic viability. The validity of the proposed model is proven by case study results. Large-scale battery storage will become an essential part of the future smart grid.

Is battery storage a good bidding strategy for power markets?

This paper investigates the optimal bidding strategy for battery storage in power markets. Battery storage could increase its profitability by providing fast regulation service under a performance-based regulation mechanism, which better exploits a battery’s fast ramping capability.

Will large-scale battery storage become an essential part of the smart grid?

Abstract: Large-scale battery storage will become an essential part of the future smart grid. This paper investigates the optimal bidding strategy for battery storage in power markets.

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 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.

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.