The operating schedule for battery energy storage companies in electricity market

Zhang, Shengqi, Mishra, Yateendra, Ledwich, Gerard, & Xue, Yusheng (2013) The operating schedule for battery energy storage companies in electricity market. Journal of Modern Power Systems and Clean Energy, 1(3), pp. 275-284.

View at publisher (open access)

Abstract

This paper presents a series of operating schedules for Battery Energy Storage Companies (BESC) to provide peak shaving and spinning reserve services in the electricity markets under increasing wind penetration. As individual market participants, BESC can bid in ancillary services markets in an Independent System Operator (ISO) and contribute towards frequency and voltage support in the grid. Recent development in batteries technologies and availability of the day-ahead spot market prices would make BESC economically feasible. Profit maximization of BESC is achieved by determining the optimum capacity of Energy Storage Systems (ESS) required for meeting spinning reserve requirements as well as peak shaving. Historic spot market prices and frequency deviations from Australia Energy Market Operator (AEMO) are used for numerical simulations and the economic benefits of BESC is considered reflecting various aspects in Australia’s National Electricity Markets (NEM).

Impact and interest:

5 citations in Scopus
4 citations in Web of Science®
Search Google Scholar™

Citation counts are sourced monthly from Scopus and Web of Science® citation databases.

These databases contain citations from different subsets of available publications and different time periods and thus the citation count from each is usually different. Some works are not in either database and no count is displayed. Scopus includes citations from articles published in 1996 onwards, and Web of Science® generally from 1980 onwards.

Citations counts from the Google Scholar™ indexing service can be viewed at the linked Google Scholar™ search.

ID Code: 66092
Item Type: Journal Article
Refereed: Yes
Keywords: Spinning reserve, Battery energy storage systems, Energy market, Ancillary services market
DOI: 10.1007/s40565-013-0039-6
ISSN: 2196-5420
Subjects: Australian and New Zealand Standard Research Classification > ENGINEERING (090000) > ELECTRICAL AND ELECTRONIC ENGINEERING (090600) > Power and Energy Systems Engineering (excl. Renewable Power) (090607)
Divisions: Current > Schools > School of Electrical Engineering & Computer Science
Current > QUT Faculties and Divisions > Science & Engineering Faculty
Deposited On: 14 Jan 2014 01:50
Last Modified: 15 Jan 2014 00:46

Export: EndNote | Dublin Core | BibTeX

Repository Staff Only: item control page