Power plant energy storage system bidding

Can a virtual power plant be a prosumer?

Abstract: As an aggregator involved in various renewable energy sources, energy storage systems, and loads, a virtual power plant (VPP) plays a key role as a prosumer. A VPP may enable itself to supply energy and ancillary services to the utility grid. This paper proposes a novel scheme for optimizing the operation and bidding strategy of VPPs.

Can large-scale PV and storage power plants participate in the electricity market?

Under the above context, this paper fully considers the electricity market transaction rules from the Electric Reliability Council of Texas (ERCOT) and designs a VPP composed of large-scale PV and storage power plants to participate in the electricity market.

How can a VPP optimize the operation and bidding strategy?

A VPP may enable itself to supply energy and ancillary services to the utility grid. This paper proposes a novel scheme for optimizing the operation and bidding strategy of VPPs. By scheduling the energy storage systems, demand response, and renewable energy sources, VPPs can join bidding markets to achieve maximum benefits.

Can a virtual power plant reduce bidding bias?

Finally, the results of a realistic case study are provided to show that the proposed approach can reduce the bidding bias of a virtual power plant in the electricity market, increase operating profit and reduce the cost of electricity purchasing.

What is the optimal bidding strategy for ESSs in the FRP market?

This study introduces a stochastic optimisation framework for participation of ESSs in the FRP market. The proposed model formulates the optimal bidding strategy of ESSs considering the real-time energy, flexible ramp-up and ramp-down marginal price signals and the associated uncertainties.

How is the bidding strategy implemented?

The bidding strategy is implemented on the real-time price signals of Fig. 4 (the average of ten MCS) and is tabulated in Table 2. In this table, the two-level bids (one for energy and one for FRP) when the FRU or FRD prices are greater than 0.5$/MWh are demonstrated.