Abstract

This paper considers market operation of an energy storage unit. The goal is to assess the potentials for revenue and impact of a profit-maximizing storage unit on market prices in the day-ahead electricity market. It also analyzes the impact of a storage unit on market performance of conventional generators. A bilevel profit maximization model is proposed in which the upper-level problem is a storage operation and bidding decision problem, while the lower level problem simulates market clearing. The proposed model is applied to the 24-bus IEEE test system.

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