How effective is the bidding strategy of energy storage power station?

The bidding strategy of energy storage power station formulated in most papers relies on the day-ahead predicted price and regulation demand, and the effectiveness of the bidding strategy is based on the premise that day-ahead forecast is accurate [9, 10, 11].

What happens if an FRR capacity bid is accepted?

When an FRR capacity bid is accepted, the BESS then needs to submit a respective mandatory energy bid. In order to further extend the usage of our BESS, we implement also voluntary energy bidding for FRR within our algorithm if this turns out feasible during the course of the day (GCT for FRR energy bids in the Baltic market is 25 min).

What is the most reliable bidding strategy for a Bess?

According to the analysis in Sect. 5.1, the most reliable bidding strategy for each BESS at this time is to declare its marginal cost curve as its supply function, so as to determine its own frequency regulation mileage quotation and capacity. Therefore, in this case, the five BESSs take their marginal costs as the declared supply function.

What is the bidding strategy of Bess in dam & RTM?

Flow chart of bidding strategy of BESS in DAM and RTM Usually, the lower limit of the price declaration stipulated by the electricity market is zero or even negative, which provides the opportunity for the power generators participating in the market to take risks.

Can the Bess submit voluntary FRR energy bids?

To enable the BESS to submit voluntary FRR energy bids, we have implemented a more sophisticated procedure compared to the capacity and mandatory energy bidding, which accounts for the actual trajectory of the SOC as well as other reserve obligations and priorly made ID trades.

What is the bidding strategy of Bess in frequency regulation market?

Aiming at the multi-time scale clearing mechanism of the actual frequency regulation market, this paper divides the bidding strategy of BESSs to participate in the frequency regulation market into two stages: day ahead market (DAM) and real time market (RTM). The remainder of this article is organized as follows.