Electricity storage is used for intertemporal price arbitrage and for ancillary services that balance unforeseen supply and demand fluctuations via frequency regulation. We present an optimization model that computes bids for both arbitrage and frequency regulation and ensures that storage operators can honor their market commitments at all times for all fluctuation signals in an … Read more
Low-carbon societies will need to store vast amounts of electricity to balance intermittent generation from wind and solar energy, for example, through frequency regulation. Here, we derive an analytical solution to the decision-making problem of storage operators who sell frequency regulation power to grid operators and trade electricity on day-ahead markets. Mathematically, we treat future … Read more
We propose the first computationally tractable framework to solve multi-stage stochastic optimal power flow (OPF) problems in alternating current (AC) power systems. To this end, we use recent results on dual convex semi-definite programming (SDP) relaxations of OPF problems in order to adapt the stochastic dual dynamic programming (SDDP) algorithm for problems with a Markovian … Read more