This paper presents a series of operating\r\nschedules for Battery Energy Storage Companies (BESC)\r\nto provide peak shaving and spinning reserve services in\r\nthe electricity markets under increasing wind penetration.\r\nAs individual market participants, BESC can bid in ancillary\r\nservices markets in an Independent System Operator\r\n(ISO) and contribute towards frequency and voltage support\r\nin the grid. Recent development in batteries technologies\r\nand availability of the day-ahead spot market prices\r\nwould make BESC economically feasible. Profit maximization\r\nof BESC is achieved by determining the optimum\r\ncapacity of Energy Storage Systems (ESS) required for\r\nmeeting spinning reserve requirements as well as peak\r\nshaving. Historic spot market prices and frequency deviations\r\nfrom Australia Energy Market Operator (AEMO) are\r\nused for numerical simulations and the economic benefits\r\nof BESC is considered reflecting various aspects in Australia�s\r\nNational Electricity Markets (NEM).
Loading....