Related papers: Energy Storage Arbitrage in Two-settlement Markets…
We characterize profit-maximizing operating strategies, over some time horizon [0,T], for an energy store which is trading in an arbitrage market. Our theory allows for leakage, operating inefficiencies, operating constraints and general…
Energy storage are strategic participants in electricity markets to arbitrage price differences. Future power system operators must understand and predict strategic storage arbitrage behaviors for market power monitoring and capacity…
This paper investigates the problem of proportionally fair double sided energy auction involving buying and selling agents. The grid is assumed to be operating under islanded mode. A distributed auction algorithm that can be implemented by…
With the growing penetration of renewable energy resource, electricity market prices have exhibited greater volatility. Therefore, it is important for Energy Storage Systems(ESSs) to leverage the multidimensional nature of energy market…
This work is concerned with the application of game theoretic principles to model competition between demand response aggregators for selling excess energy stored in electrochemical storage devices directly to other aggregators in a power…
The rising share of volatile renewable generation increases the demand for flexibility in the electricity grid. Flexible capacity can be offered by industrial energy systems through participation on either the continuous intraday,…
Energy storage can absorb variability from the rising number of wind and solar power producers. Storage is different from the conventional generators that have traditionally balanced supply and demand on fast time scales due to its hard…
Electricity markets are experiencing a rapid increase in energy storage unit participation. Unlike conventional generation resources, quantifying the competitive operation and identifying if a storage unit is exercising market power is…
Coordination between heat and electricity markets is essential to achieve a cost-effective and efficient operation of the energy system. In the current sequential market practice, the heat market is cleared before the electricity market and…
This paper proposes an incentive-based aggregator for electric vehicles (EVs) in workplace parking lots to participate in the energy and regulation markets. With the implementation of seasonal Autoregressive Integrated Moving Average…
Electricity price prediction plays a vital role in energy storage system (ESS) management. Current prediction models focus on reducing prediction errors but overlook their impact on downstream decision-making. So this paper proposes a…
In this paper, multi-agent reinforcement learning is used to control a hybrid energy storage system working collaboratively to reduce the energy costs of a microgrid through maximising the value of renewable energy and trading. The agents…
An important revenue stream for electric battery operators is often arbitraging the hourly price spreads in the day-ahead auction. The optimal approach to this is challenging if risk is a consideration as this requires the estimation of…
Power producers use a wide range of decision support systems to manage and plan for sales in the day-ahead electricity market, and they are often faced with the challenge of choosing the most advantageous bidding strategy for any given day.…
With the rapid growth of electric vehicles (EVs), EV aggregators have been playing a increasingly vital role in power systems by not merely providing charging management but also participating in wholesale electricity markets. This work…
Energy storage can facilitate the integration of renewable energy resources by providing arbitrage and ancillary services. Jointly optimizing energy and ancillary services in a centralized electricity market reduces the system's operating…
The increasing penetration of renewable energy necessitates improved power system flexibility, driving the deployment of independent energy storage operators (ESOs). Existing research extensively investigates capacity sizing for price-taker…
This paper presents a novel decision-focused framework integrating the physical energy storage model into machine learning pipelines. Motivated by the model predictive control for energy storage, our end-to-end method incorporates the prior…
Two-stage electricity market clearing is designed to maintain market efficiency under ideal conditions, e.g., perfect forecast and nonstrategic generation. This work demonstrates that the individual strategic behavior of inelastic load…
This paper examines the electrification of transportation as a response to environmental challenges caused by fossil fuels, exploring the potential of battery electric vehicles and hydrogen fuel cell vehicles as alternative solutions.…