Abstract
This study presents a market model that procures energy and performance-based regulation services simultaneously considering the participation of energy storage devices. The correlations of energy, regulation capacity, and regulation mileage are explicitly demonstrated. The proposed market model determines the energy schedule of generation units, charging and discharging profiles of energy storage devices, and the schedule of regulation services. Market clearing prices for energy, regulation capacity, and regulation mileage are derived and decomposed through Lagrange multiplier analysis. The relationships between the clearing prices of different market products are analysed. The proposed market model is tested and verified with the IEEE 30-bus system.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
