Optimized Market Bidding of Energy Storage Systems for Dynamic Containment Service

L. Ochoa-Eguilegor; N. Goitia-Zabaleta; A. González-Garrido; A. Saez-De-Ibarra; H. Gaztañaga; Araceli Hernandez

doi:10.1109/EEEIC/ICPSEurope51590.2021.9584713

Optimized Market Bidding of Energy Storage Systems for Dynamic Containment Service

L. Ochoa-Eguilegor
, N. Goitia-Zabaleta
, A. González-Garrido
, A. Saez-De-Ibarra
, H. Gaztañaga
, Araceli Hernandez

Energy planning

Basque Research and Technology Alliance (BRTA)
Technical University of Madrid

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

4 Citations (Scopus)

Abstract

In a near future, the deployment of renewable energy sources will lead to an increasing need for faster and more reliable auxiliary services. This paper evaluates the participation of the energy storage systems in the Dynamic Containment service recently launched in Great Britain. Moreover, a market bidding strategy to manage the state of charge of the battery has been developed in which the Intraday Continuous Market purchase transactions are optimized. Additionally, the lifetime is estimated through an aging model based on Rainflow cycling counting algorithm and Wöhler curves. A techno-economic analysis is conducted to demonstrate the technical capability and reliable performance of the energy storage system. Finally, the main financial indicators are presented for the considered case study, which states the potential profitability for this recent business model.

Original language	English
Title of host publication	21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings
Editors	Zbigniew M. Leonowicz
Publisher	Institute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)	9781665436120
DOIs	https://doi.org/10.1109/EEEIC/ICPSEurope51590.2021.9584713
Publication status	Published - 2021
Event	21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Bari, Italy Duration: 7 Sept 2021 → 10 Sept 2021

Publication series

Name	21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings

Conference

Conference	21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021
Country/Territory	Italy
City	Bari
Period	7/09/21 → 10/09/21

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

dynamic containment
electricity market
energy management
energy storage

Access to Document

10.1109/EEEIC/ICPSEurope51590.2021.9584713

Cite this

Ochoa-Eguilegor, L., Goitia-Zabaleta, N., González-Garrido, A., Saez-De-Ibarra, A., Gaztañaga, H., & Hernandez, A. (2021). Optimized Market Bidding of Energy Storage Systems for Dynamic Containment Service. In Z. M. Leonowicz (Ed.), 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings (21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/EEEIC/ICPSEurope51590.2021.9584713

Ochoa-Eguilegor, L. ; Goitia-Zabaleta, N. ; González-Garrido, A. et al. / Optimized Market Bidding of Energy Storage Systems for Dynamic Containment Service. 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings. editor / Zbigniew M. Leonowicz. Institute of Electrical and Electronics Engineers Inc., 2021. (21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings).

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title = "Optimized Market Bidding of Energy Storage Systems for Dynamic Containment Service",

abstract = "In a near future, the deployment of renewable energy sources will lead to an increasing need for faster and more reliable auxiliary services. This paper evaluates the participation of the energy storage systems in the Dynamic Containment service recently launched in Great Britain. Moreover, a market bidding strategy to manage the state of charge of the battery has been developed in which the Intraday Continuous Market purchase transactions are optimized. Additionally, the lifetime is estimated through an aging model based on Rainflow cycling counting algorithm and W{\"o}hler curves. A techno-economic analysis is conducted to demonstrate the technical capability and reliable performance of the energy storage system. Finally, the main financial indicators are presented for the considered case study, which states the potential profitability for this recent business model.",

keywords = "dynamic containment, electricity market, energy management, energy storage",

author = "L. Ochoa-Eguilegor and N. Goitia-Zabaleta and A. Gonz{\'a}lez-Garrido and A. Saez-De-Ibarra and H. Gazta{\~n}aga and Araceli Hernandez",

note = "Publisher Copyright: {\textcopyright} 2021 IEEE; 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 ; Conference date: 07-09-2021 Through 10-09-2021",

year = "2021",

doi = "10.1109/EEEIC/ICPSEurope51590.2021.9584713",

language = "English",

series = "21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings",

publisher = "Institute of Electrical and Electronics Engineers Inc.",

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booktitle = "21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings",

address = "United States",

}

Ochoa-Eguilegor, L, Goitia-Zabaleta, N , González-Garrido, A, Saez-De-Ibarra, A, Gaztañaga, H & Hernandez, A 2021, Optimized Market Bidding of Energy Storage Systems for Dynamic Containment Service. in ZM Leonowicz (ed.), 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings. 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings, Institute of Electrical and Electronics Engineers Inc., 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021, Bari, Italy, 7/09/21. https://doi.org/10.1109/EEEIC/ICPSEurope51590.2021.9584713

Optimized Market Bidding of Energy Storage Systems for Dynamic Containment Service. / Ochoa-Eguilegor, L.; Goitia-Zabaleta, N.; González-Garrido, A. et al.
21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings. ed. / Zbigniew M. Leonowicz. Institute of Electrical and Electronics Engineers Inc., 2021. (21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - Optimized Market Bidding of Energy Storage Systems for Dynamic Containment Service

AU - Ochoa-Eguilegor, L.

AU - Goitia-Zabaleta, N.

AU - González-Garrido, A.

AU - Saez-De-Ibarra, A.

AU - Gaztañaga, H.

AU - Hernandez, Araceli

PY - 2021

Y1 - 2021

N2 - In a near future, the deployment of renewable energy sources will lead to an increasing need for faster and more reliable auxiliary services. This paper evaluates the participation of the energy storage systems in the Dynamic Containment service recently launched in Great Britain. Moreover, a market bidding strategy to manage the state of charge of the battery has been developed in which the Intraday Continuous Market purchase transactions are optimized. Additionally, the lifetime is estimated through an aging model based on Rainflow cycling counting algorithm and Wöhler curves. A techno-economic analysis is conducted to demonstrate the technical capability and reliable performance of the energy storage system. Finally, the main financial indicators are presented for the considered case study, which states the potential profitability for this recent business model.

AB - In a near future, the deployment of renewable energy sources will lead to an increasing need for faster and more reliable auxiliary services. This paper evaluates the participation of the energy storage systems in the Dynamic Containment service recently launched in Great Britain. Moreover, a market bidding strategy to manage the state of charge of the battery has been developed in which the Intraday Continuous Market purchase transactions are optimized. Additionally, the lifetime is estimated through an aging model based on Rainflow cycling counting algorithm and Wöhler curves. A techno-economic analysis is conducted to demonstrate the technical capability and reliable performance of the energy storage system. Finally, the main financial indicators are presented for the considered case study, which states the potential profitability for this recent business model.

KW - dynamic containment

KW - electricity market

KW - energy management

KW - energy storage

UR - https://www.scopus.com/pages/publications/85126482536

U2 - 10.1109/EEEIC/ICPSEurope51590.2021.9584713

DO - 10.1109/EEEIC/ICPSEurope51590.2021.9584713

M3 - Conference contribution

AN - SCOPUS:85126482536

T3 - 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings

BT - 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings

A2 - Leonowicz, Zbigniew M.

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021

Y2 - 7 September 2021 through 10 September 2021

ER -

Ochoa-Eguilegor L, Goitia-Zabaleta N , González-Garrido A, Saez-De-Ibarra A, Gaztañaga H, Hernandez A. Optimized Market Bidding of Energy Storage Systems for Dynamic Containment Service. In Leonowicz ZM, editor, 21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings. Institute of Electrical and Electronics Engineers Inc. 2021. (21st IEEE International Conference on Environment and Electrical Engineering and 2021 5th IEEE Industrial and Commercial Power System Europe, EEEIC / I and CPS Europe 2021 - Proceedings). doi: 10.1109/EEEIC/ICPSEurope51590.2021.9584713

Optimized Market Bidding of Energy Storage Systems for Dynamic Containment Service

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

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