Energy storage power station cleaning bidding

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 is the proposed bidding strategy of Bess owners?

The proposed bidding strategy of BESS owners considers both energy market and regulation market, which shows flexibility to the uncertain bidding environments, such as prior knowledge of other rivals and dynamics of the system operator.

What is station use energy?

Station Use: “Station use” energy refers to energy that is required for the operation of an energy generation or storage resource in order for such resource to operate. For certain types of resources the station load can be significant.

How to solve optimal bidding problem in a stochastic environment?

Problem reformulation Aiming at the stochastic environment of power market, the optimal bidding problem in an stochastic environment is reformulated based on equation (1), which includes the state space S, action space A, transition probability function P, reward function R and discount factor γ in detail.

Can a power supplier generate power if its offers are accepted?

A power supplier can only generate power if its offers are accepted. Otherwise, the extra penalties should be paid. The subscript ” t ” is the index of the hours in each day, since the bidding strategy is day-ahead with hourly bids in the wholesale electricity market.

What is battery energy storage system (BESS)?

Introduction Battery Energy Storage System (Battery Energy Storage System (BESS)) gets the opportunity to play an important role in the future smart grid. With the rapid development of battery technology, the BESS can bring more benefits for the owners and the cost of BESS construction is gradually reduced , , .