Naslov
Managing Risks Faced by Strategic Battery Storage in Joint Energy-Reserve Markets

Autori
Pandžić, Kristina ; Pandžić, Hrvoje ; Brunninx, Kenneth

Izvornik
IEEE transactions on power systems (0885-8950) 36 (2021), 5; 4355-4365

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

Ključne riječi
Battery Energy Storage, MPEC, Joint Energy-Reserve Market, Balancing Market, Conditional-Value-at-Risk

Sažetak
Securing profits from energy, reserve capacity and balancing markets is critical to ensure the profitability of battery energy systems (BES). However, the intimate connection between offers on these trading floors combined with the limited energy storage capacity of BES renders its scheduling very complex. In this paper, we develop a bilevel optimization problem for strategic participation of a BES in the day- ahead energy-reserve and balancing markets, improving the state-of-the-art by (i) considering the conditional-value-at-risk ; (ii) ensuring the real-time feasibility of the obtained day-ahead schedule ; (iii) addressing the operational underperformance risk stemming from inaccurate battery modeling. In a case study, we illustrate how the proposed model allows risk-averse BES owners to hedge their day-ahead position without jeopardizing their expected profit, while ensuring the feasibility of their day-ahead schedule.

Izvorni jezik
Engleski

Znanstvena područja
Elektrotehnika

POVEZANOST RADA