Is a multi-markets biding strategy decision model based on a grid-side battery energy storage system?

Abstract: A multi-markets biding strategy decision model with grid-side battery energy storage system (BESS) as an independent market operator is proposed in this paper.

How is the bidding strategy implemented?

The bidding strategy is implemented on the real-time price signals of Fig. 4 (the average of ten MCS) and is tabulated in Table 2. In this table, the two-level bids (one for energy and one for FRP) when the FRU or FRD prices are greater than 0.5$/MWh are demonstrated.

When should a bid be greater than the energy capacity?

According to Fig. 3, the bid should be greater than with the energy capacity equal to in order to approach an optimal energy purchase. The FRU will be enabled if the ESS submits a bid with power level equal to the desired FRU value and a price between and .

How do generating units bid in dam & RTM?

The generating units submit energy bids in DAM and RTM based on their power-cost functions. The original model was quadratic which was linearised with five steps. The piece-wise linear power-cost function was used as their bid in DAM and RTM. For wind generators, it is assumed that their bidding price is 0, i.e. they sell with any market price.

What is the bidding strategy of ESS based on energy and FRP price signals?

The bidding strategy of ESS based on energy and FRP price signals in order to maximise its profitability is described in Section 4. The case study and numerical results are investigated in Section 5 and eventually, the concluding remarks are presented in Section 6.

What is the Bess biding/offering method?

The BESS biding/offering method can be described as follows: The profit of BESS s connected to bus i for active and reactive power exchange is indicated by the objective function of profits, i as given in Eq. (59). It consists of four chunks: the total costs of exchange active power in DAM and RTM as well as exchange reactive power in DAM and RTM.