The full utilization of regenerative braking energy (RBE) within the railway traction power supply system (TPSS) is of great significance for railway energy conservation and power grid safety. The traditional railway traction power supply system adopts a segmented structure, and achieving efficient utilization of RBE between adjacent traction substation (TS) is a challenge. This paper proposes an RBE utilization system (RBEUS) based on railway power regulator (RPC) and hybrid energy storage system (HESS), which achieves efficient utilization of RBE between adjacent TS and maximum demand reduction of TPSS through power sharing and energy storage. A power flow control strategy based on state machine logic is proposed, and the energy scheduling reference values of RPC and HESS under different typical operating conditions are calculated. By analyzing the mathematical relationship between the costs and benefits of RBEUS, a multi constraint RBEUS lifecycle net profit optimization model is established. The optimal capacity configuration of RBEUS is obtained by using an improved beluga whale optimization algorithm with the goal of maximizing the total net income of two TSs. The advantages of the proposed method in terms of RBE utilization and economic benefits are verified through engineering case analysis and scheme comparison.
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