Local new energy storage bidding

What is a joint energy-reserve procurement strategy?

Market operators use either sequential or joint energy-reserve procurement strategies. Joint markets clear energy and reserves simultaneously, accounting for interdependencies, using UC optimization at the unit level . Examples include U.S. markets such as PJM, CAISO, ERCOT, MISO, and NYISO , .

How does reconnection of demand Block 1 affect energy prices?

The energy price increases from 22:00 to 24:00 as result of the reconnection of demand block 1 at hour 22:00, enabled by the semi-elastic load modeling approach. The reduction in the load of demand block 1 allows its reconnection while respecting the transmission network’s thermal limits.

How does transmission congestion affect the Bess bidding strategy?

The introduction of transmission congestion brings significant changes in market dynamics. Since the BESS does not have sufficient power output capacity to fully maintain demand block 1 online during congestion, curtailment occurs, and our methodology adjusts the BESS bidding strategy accordingly.

How does a Bess approach affect the electricity wholesale market?

Consequently, this approach restricts the strategic options available to BESSs owners, diminishing their ability to optimize profit and increasing the challenge of seamlessly integrating them into broader electricity wholesale markets.