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Open AccessArticle

Optimal Battery Storage Participation in European Energy and Reserves Markets

by 1,†, 2,†, 3,† and 2,*,†
1
Croatian TSO (Hrvatski Operator Prijenosnog Sustava d.o.o.—HOPS), Zagreb 10000, Croatia
2
Department of Energy and Power Systems, Faculty of Electrical Engineering and Computing, University of Zagreb, Zagreb 10000, Croatia
3
Hrvatska Elektroprivreda d.d., Zagreb 10000, Croatia
*
Author to whom correspondence should be addressed.
These authors contributed equally to this work.
Energies 2020, 13(24), 6629; https://doi.org/10.3390/en13246629
Received: 19 October 2020 / Revised: 29 November 2020 / Accepted: 1 December 2020 / Published: 15 December 2020
(This article belongs to the Special Issue Integration of Electric Vehicles and Battery Storage Systems)
Battery energy storage is becoming an important asset in modern power systems. Considering the market prices and battery storage characteristics, reserve provision is a tempting play fields for such assets. This paper aims at filling the gap by developing a mathematically rigorous model and applying it to the existing and future electricity market design in Europe. The paper presents a bilevel model for optimal battery storage participation in day-ahead energy market as a price taker, and reserve capacity and activation market as a price maker. It uses an accurate battery charging model to reliably represent the behavior of real-life lithium-ion battery storage. The proposed bilevel model is converted into a mixed-integer linear program by using the Karush–Kuhn–Tucker optimality conditions. The case study uses real-life data on reserve capacity and activation costs and quantities in German markets. The reserves activation quantities and activation prices are modeled by a set of credible scenarios in the lower-level problem. Finally, a sensitivity analysis is conducted to comprehend to what extent do battery storage bidding prices affect its overall profit. View Full-Text
Keywords: battery storage; day-ahead market; reserve market; optimal scheduling battery storage; day-ahead market; reserve market; optimal scheduling
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MDPI and ACS Style

Pandžić, K.; Pavić, I.; Andročec, I.; Pandžić, H. Optimal Battery Storage Participation in European Energy and Reserves Markets. Energies 2020, 13, 6629. https://doi.org/10.3390/en13246629

AMA Style

Pandžić K, Pavić I, Andročec I, Pandžić H. Optimal Battery Storage Participation in European Energy and Reserves Markets. Energies. 2020; 13(24):6629. https://doi.org/10.3390/en13246629

Chicago/Turabian Style

Pandžić, Kristina; Pavić, Ivan; Andročec, Ivan; Pandžić, Hrvoje. 2020. "Optimal Battery Storage Participation in European Energy and Reserves Markets" Energies 13, no. 24: 6629. https://doi.org/10.3390/en13246629

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