Impact of Strategic Behavior and Ownership of Energy Storage on Provision of Flexibility

Hartwig, Karl; Kockar, Ivana

doi:10.1109/tste.2015.2497967

Cited by 75 publications

(27 citation statements)

References 29 publications

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“…Hartwig and Kockar modeled strategic bidding and dispatch decisions of energy storage in a nodal market [20]*. They created a bi-level optimization model, the upper level designed to maximize the difference in buy and sell LMPs and the lower level a DC-OPF problem.…”

Section: Research Questionsmentioning

confidence: 99%

“…The changes in the hourly LMPs of energy in these DA and RT markets offer the arbitrage positions for energy storage to profit [17]*. Additionally, energy storage can often influence the LMPs, by making strategic offers to keep LMPs favorable for arbitrage albeit at the expense of the electrical grid as a whole [20]*. This strategic bidding is known as gaming [44]*, and the cost of this gaming on the social welfare of the system as a whole is known as the price of anarchy [20]*.…”

Section: Rq4: What Are the Projected Revenue Streams Or Savings Assocmentioning

confidence: 99%

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Transmission-Scale Battery Energy Storage Systems: A Systematic Literature Review

Marnell¹,

Obi

Bass

2019

Energies

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When the transmission capacity of an electrical system is insufficient to adequately serve customer demand, the transmission system is said to be experiencing congestion. More transmission lines can be built to increase capacity. However, transmission congestion typically only occurs during periods of peak demand, which occur just a few times per year; capitol-intensive investments in new transmission capacity address problems that occur infrequently. Alternative solutions to alleviated transmission congestion have been devised, including generation curtailment, demand response programs, and various remedial action schema. Though not currently a common solution, battery energy storage systems can also provide transmission congestion relief. Technological and market trends indicate the growing production capacity of battery energy storage systems and decreasing prices, which indicate the technology may soon become a viable option for providing congestion relief. Batteries can provide multiple ancillary services, and so can concurrently provide value through multiple revenue streams. In this manuscript, the authors present a systematic review of literature, technology, regulations, and projects related to the use of battery energy storage systems to provide transmission congestion relief.

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Section: Research Questionsmentioning

confidence: 99%

Section: Rq4: What Are the Projected Revenue Streams Or Savings Assocmentioning

confidence: 99%

Transmission-Scale Battery Energy Storage Systems: A Systematic Literature Review

Marnell¹,

Obi

Bass

2019

Energies

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“…In [19] and [20], different problems in energy trading and cooperation among microgrids equipped with RES and ESSs were studied. The impact of strategic behavior of an independent trader operating ESSs in a nodal electricity market was evaluated in [21]. In [22], the interactions and energy trading decisions of geographically distributed resources were studied using a game theory-based framework.…”

Section: Introductionmentioning

confidence: 99%

Trilateral Planning Model for Integrated Community Energy Systems and PV-Based Prosumers—A Bilevel Stochastic Programming Approach

Pourakbari‐Kasmaei

Asensio

Lehtonen

et al. 2020

IEEE Trans. Power Syst.

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This paper proposes a trilateral bilevel stochastic mixed integer bilevel linear programming (MIBLP) model to handle a joint master-slave operation-planning problem. This model considers the interactions among an integrated community energy system (ICES), prosumers, and the wholesale electricity market (WM). The ICES, in the upper level, makes a joint optimal photovoltaic (PV) and energy storage system plan taking into account the concurrent interactions with the WM and prosumers to maximize its profit. On the other hand, in the lower level, the prosumers aim at minimizing their bills via an optimal PV-package sizing while interacting with the ICES and the WM simultaneously. The strong duality theorem is used to recast this MIBLP model into an equivalent single-level model. Since the lower level is also an operation-planning problem, this recast results in a mixed integer nonlinear programming (MINLP) model that prevents finding a satisfactory solution. To remedy this issue, sensitivity analysis and a separation-based linearization technique are applied. Numerical results illustrate the effective performance of the proposed business model while providing valuable information for the ICES and consumers.

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“…To address these issues, energy storage (ES) technology has attracted attention for its flexibility in power system dispatch and adjustment [6,7]. In recent years, with significant improvements in performance and cost, ES has been not only integrated into insular power networks [8], but also promoted to grid level [9].…”

Section: Introductionmentioning

confidence: 99%

A Remedial Strategic Scheduling Model for Load Serving Entities Considering the Interaction between Grid-Level Energy Storage and Virtual Power Plants

et al. 2018

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More renewable energy resources have been connected to the grid with the promotion of global energy strategies, which presents new opportunities for the current electricity market. However, the growing integration of renewable energy also brings more challenges, such as power system reliability and the participants’ marketable behavior. Thus, how to coordinate integrated renewable resources in the electricity market environment has gained increasing interest. In this paper, a bilevel bidding model for load serving entities (LSEs) considering grid-level energy storage (ES) and virtual power plant (VPP) is established in the day-ahead (DA) market. Then, the model is extended by considering contingencies in the intraday (ID) market. Also, according to the extended bidding model, a remedial strategic rescheduling approach for LSE’s daily profit is proposed. It provides a quantitative assessment of LSE’s loss reduction based on contingency forecasting, which can be applied to the power system dispatch to help LSEs deal with coming contingencies. Simulation results verify the correctness and effectiveness of the proposed method.

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Impact of Strategic Behavior and Ownership of Energy Storage on Provision of Flexibility

Cited by 75 publications

References 29 publications

Transmission-Scale Battery Energy Storage Systems: A Systematic Literature Review

Transmission-Scale Battery Energy Storage Systems: A Systematic Literature Review

Trilateral Planning Model for Integrated Community Energy Systems and PV-Based Prosumers—A Bilevel Stochastic Programming Approach

A Remedial Strategic Scheduling Model for Load Serving Entities Considering the Interaction between Grid-Level Energy Storage and Virtual Power Plants

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