The bidding strategy of energy storage power station formulated in most papers relies on the day-ahead predicted price and regulation demand, and the effectiveness of the bidding strategy is based on the premise that day-ahead forecast is accurate [9, 10, 11].
Aiming at the multi-time scale clearing mechanism of the actual frequency regulation market, this paper divides the bidding strategy of BESSs to participate in the frequency regulation market into two stages: day ahead market (DAM) and real time market (RTM). The remainder of this article is organized as follows.
This is because according to the frequency regulation market mechanism, the minimum frequency regulation capacity allowed to be declared by each power station is 1 MW. The BESS A only declared 14 MW frequency regulation capacity and left 1 MW capacity for other BESSs to win the bidding.
In recent years, battery energy storages stations (BESSs) account for the largest proportion in large-scale energy storage power station projects due to its advantages such as rapid response, high integrated power, decreasing cost year by year and short construction cycle.
Flow chart of bidding strategy of BESS in DAM and RTM Usually, the lower limit of the price declaration stipulated by the electricity market is zero or even negative, which provides the opportunity for the power generators participating in the market to take risks.
With the increasing proportion of renewable energy generation, the volatility and randomness of the power generation side of the power system are aggravated, and maintaining frequency stability is crucial for the future power grid [1, 2, 3, 4].