Joint Operation Strategy of Electrochemical Energy Storage Station Participating in Multi-type Electricity Markets

Abstract

As the proportion of renewable energy continues to increase, the need for flexible power resources in new power systems also increases. As a relatively mature energy storage technology, electrochemical energy storage can realize the transfer of electricity in time and space, and suppress the problems caused by renewable energy’s randomness, volatility, and intermittency. The relevant market-oriented price mechanism is gradually improving to enhance the enthusiasm for the investment and construction of electrochemical energy storage stations. However, the operation strategy of electrochemical energy storage stations in the new power system has not been analyzed. Considering the price fluctuations in the electricity market, based on the conditional value-at-risk model, a joint operation strategy model for electrochemical energy storage to participate in the electric energy market and ancillary service market is proposed. First, through the forecast of the electricity market price, a typical electricity price scenario is formed after sampling and aggregation. Then, according to the proposed operation strategy model, the capacity allocation results of different markets are obtained. The example analysis is carried out in combination with the actual situation of the electrochemical energy storage station to verify the effectiveness models. Finally, the influence of different risk preferences and market prices on the income of the power station is analyzed.