Abstract
In liberalized electricity markets, energy storage devices, especially those with high capacity, can generate income through multiple services. In this paper, a general model of energy storage operation, suitable for different optimizations and comparisons of various storage technologies in market-oriented power systems, is presented. The objective function maximizes the possible income of storage units (based on the daily operation cycle) earned from energy arbitration and several ancillary services, considering various constraints and market rules for service providers. The mixed integer linear programming (MILP) optimization technique is used to solve the objective function. In numerical examples, the optimal operation modes and possible incomes for typical battery and typical pumped storage hydropower plant (PSHP), using the achieved electricity market prices of energy and the ancillary services (regulation-up, regulation-down and spinning reserve services) in one year, were compared. The influence of the efficiency coefficient, as well as the influence of various PSHP inflows on storage policy, were investigated. The proposed model has proven robust and applicable for various analyses of storage unit operations. The performed numerical calculations have shown that with the decreasing of storage device efficiency coefficient, the incomes generated through ancillary services become more significant.
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