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

POWER SYSTEMS

Producción científica: Capítulo del libro/informe/acta de congreso › Contribución a la conferencia › revisión exhaustiva

1 Cita (Scopus)

Resumen

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.

Idioma original	Inglés
Título de la publicación alojada	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
Editores	Zbigniew M. Leonowicz
Editorial	Institute of Electrical and Electronics Engineers Inc.
ISBN (versión digital)	9781665436120
DOI	https://doi.org/10.1109/EEEIC/ICPSEurope51590.2021.9584713
Estado	Publicada - 2021
Evento	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, Italia Duración: 7 sept 2021 → 10 sept 2021

Serie de la publicación

Nombre	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

Conferencia

Conferencia	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
País/Territorio	Italia
Ciudad	Bari
Período	7/09/21 → 10/09/21

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10.1109/EEEIC/ICPSEurope51590.2021.9584713

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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. En 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",

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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. En 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, Italia, 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).

Producción científica: Capítulo del libro/informe/acta de congreso › Contribución a la conferencia › revisión exhaustiva

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.

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KW - electricity market

KW - energy management

KW - energy storage

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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. En 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

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