Photovoltaic energy storage system bidding

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.

What is the proposed bidding mechanism for energy trades and FRP?

The proposed mechanism is a two-level bidding action that the ESS should submit: one for energy trades and the other for FRP. The proposed solution is simulated on the IEEE 118-bus test system and MCS is performed to attain the expected real-time realised position.

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 bidding price of a wind generator?

For wind generators, it is assumed that their bidding price is 0, i.e. they sell with any market price. For loads, it is assumed that they purchase the demands up to the price cap of 1000$/MWh. In order to increase the net-load intermittency and the need for FRP, the wind energy percentage is assumed to be 25% of the load.

Do energy storage systems have a high ramping capability?

Energy storage systems (ESSs) with high ramping capability can leverage their profitability when properly participating in this market. This study introduces a stochastic optimisation framework for participation of ESSs in the FRP market.

What is energy storage unit data?

Energy storage unit data The system under study is the IEEE 118-bus test system whose data are given in [ 31 ]. As the FRP is only procured during normal operating conditions (and not during emergencies), the contingency scenarios are not considered.