Energy storage lithium battery bidding information query

Can battery energy storage be a joint bidding strategy?

To ensure the flexible operations of the power system, it is necessary to explore the potential flexibility regulation capacity and further promote the accommodation of the renewable energy. Under this context, a joint bidding strategy for battery energy storage in the regulation and energy electricity market is proposed in this paper.

Does a battery energy storage system (BESS) represent the physical and operational characteristics?

However, in the existing market frameworks that allow Battery Energy Storage Systems (BESSs) to participate, the bids and offers do not explicitly represent the physical and operational characteristics such as the state of charge (SOC), discharge rate, degradation, etc.

Can battery electric storage provide flexible ramping products?

Then, an optimization model is proposed to offer the bidding strategies for battery electric storage providing flexible ramping products in the energy and regulation market. Finally, the effectiveness of the proposed model is verified by case studies and sensitivity analysis.

What is the proposed bidding strategy?

The proposed bidding strategy considers both energy market and regulation market, which shows flexibility to the uncertain bidding environments. The proposed algorithm is an individual profit maximisation bidding strategy, which can help the BESS owner optimise its bidding strategy to obtain highest bidding revenue without rivals information.

What are the operational limitations of energy storage?

Operating Limitations: Energy storage resources may be subject to operational constraints that do not affect traditional generation projects. For example, certain battery technologies will degrade more quickly if the state of charge is not actively managed within a certain range.

What is the proposed model of Bess bidding in pool based electricity market?

The proposed model of BESS bidding in the pool based electricity market is described in detail. The decision variables are the capacity bids in energy market b e, t, the capacity bids in AGC market b c, t u p and b c, t d o w n and the price bids in AGC market b p, t of the BESS for each hour in the next day. 4.1. Objective function