no code implementations • 10 Jun 2020 • Reza Khalilisenobari, Meng Wu
This paper proposes a bi-level optimization framework to investigate the optimal market operation strategies of price-maker battery energy storage systems (BESSs) in real-time energy, spinning reserve, and pay as performance regulation markets, with a special focus on understanding BESS's excessive regulation market participation observed by several system operators and the impact of battery degradation cost on BESS market activities.
