The power networks are evolving with increased active components such as energy storage and flexibility derived from loads such as electric vehicles, heat pumps, industrial processes, etc. Better models are needed to accurately represent these assets; otherwise, their true capabilities might be over or under-estimated. In this work, we propose a new energy storage and flexibility arbitrage model that accounts for both ramp (power) and capacity (energy) limits, while accurately modelling the ramp rate constraint. The proposed models are linear in structure and efficiently solved using off-the-shelf solvers as a linear programming problem. We also provide an online repository for wider application and benchmarking. Finally, numerical case studies are performed to quantify the sensitivity of ramp rate constraint on the operational goal of profit maximization for energy storage and flexibility. The results are encouraging for assets with a slow ramp rate limit. We observe that for resources with a ramp rate limit of 10% of the maximum ramp limit, the marginal value of performing energy arbitrage using such resources exceeds 65% and up to 90% of the maximum profit compared to the case with no ramp rate limitations.
Pricing multi-interval economic dispatch of electric power under operational uncertainty is considered in this two-part paper. Part I investigates dispatch-following incentives for generators under the locational marginal pricing (LMP) and temporal locational marginal pricing (TLMP) policies. Extending the theoretical results developed in Part I, Part II evaluates a broader set of performance measures under a general network model. For networks with power flow constraints, TLMP is shown to have an energy-congestion-ramping price decomposition. Under the one-shot dispatch and pricing model, thi…
Wind energy has been integrated into the power system with the hope that it improves the energy efficiency and decreases greenhouse gas emission. However, several studies over the world imply that the result was in the opposite way that was hoped mainly because of the negative correlation between wind availability and load. Under the situation, coal power plants are forced to cycle while they are not designed to do so. To prevent this unwanted result from occurring, a unit commitment decision should include the use of fuel and the emission rate during the ramp up/down process. This paper propo…
We formulate the optimal energy arbitrage problem for a piecewise linear cost function for energy storage devices using linear programming (LP). The LP formulation is based on the equivalent minimization of the epigraph. This formulation considers ramping and capacity constraints, charging and discharging efficiency losses of the storage, inelastic consumer load and local renewable generation in presence of net-metering which facilitates selling of energy to the grid and incentivizes consumers to install renewable generation and energy storage. We consider the case where the consumer loads, el…
Energy Storage in Madeira, Portugal: Co-optimizing for Arbitrage, Self-Sufficiency, Peak Shaving and Energy Backup
INRIA and DI ENS, ENS, CNRS, PSL University(法国国家信息与自动化研究所、巴黎高等师范学院、法国国家科学研究中心、巴黎文理研究大学);ITI, LARSyS, Ténico Lisboa, and prsma.com(技术研究所、LARSyS、里斯本理工学院和prsma公司)