Does strategic ESS bidding work in electricity markets with limit information?

These findings reinforce the practicality and adaptability of the proposed method for strategic ESS bidding in electricity markets with limit information and offer a solid foundation for future research on market-based ESS operations.

Can price-maker ESS bidding maximize profits through energy arbitrage?

A novel price-maker ESS bidding model is proposed to maximize profits through energy arbitrage and the provision of ancillary services. SPQC is developed to capture the price probability distributions as functions of ESS bidding decisions.

How is the bidding strategy formulated?

The bidding strategy is performed daily, and the joint PDFs of demand and price is formulated based on the last 6 months data with similar day's conditions (weekdays or weekends) and time periods (48 points per day). The following 4 cases are considered and tested.

What is an example of a bidding strategy?

For example, Nord Pool (Northern Europe) and BETTA (Great Britain Electricity Trading and Transmission Arrangements) provide access to grid parameters but restrict access to energy bidding data . Hence, developing bidding strategies under imperfect information is essential for price makers.

Do rivals' bidding data have access to other critical data?

Existing methods primarily address the absence of rivals' bidding information but often assume access to other critical data, such as zonal loads , grid topologies and parameters [16, 17], and the probabilistic behavior of other participants [14, 15].

How to calculate epqc for a specific bidding decision?

Therefore, we can define EPQC for a specific bidding decision as a function g t, k ⋄ x t ⋄ = E λ t, k ⋄ x t ⋄, which can be calculated according to (22). This represents the expected clearing price for a given bidding decision in a particular market (energy, regulation, primary reserve, or contingency reserve).