Naslov
Optimal Battery Storage Participation in European Energy and Reserves Markets

Autori
Pandžić, Kristina ; Pavić, Ivan ; Andročec, Ivan ; Pandžić, Hrvoje

Izvornik
Energies (1996-1073) 13 (2020); 1-22

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
battery storage ; day-ahead market ; reserve market ; optimal scheduling

Sažetak
Battery energy storage is becoming an important asset in modern power systems. Considering the market prices and battery storage characteristics, reserve provision is a tempting play fields for such assets. This paper aims at filling the gap by developing a mathematically rigorous model and applying it to the existing and future electricity market design in Europe. The paper presents a bilevel model for optimal battery storage participation in day-ahead energy market as a price taker, and reserve capacity and activation market as a price maker. It uses an accurate battery charging model to reliably represent the behavior of real-life lithium-ion battery storage. The proposed bilevel model is converted into a mixed-integer linear program by using the Karush–Kuhn–Tucker optimality conditions. The case study uses real-life data on reserve capacity and activation costs and quantities in German markets. The reserves activation quantities and activation prices are modeled by a set of credible scenarios in the lower-level problem. Finally, a sensitivity analysis is conducted to comprehend to what extent do battery storage bidding prices affect its overall profit.

Izvorni jezik
Engleski

Znanstvena područja
Elektrotehnika

POVEZANOST RADA