Pricing Real-time Stochastic Storage Operations
Pricing storage operation in the real-time market under demand and generation stochasticities is considered. A scenario-based stochastic rolling-window dispatch model is formulated for the real-time market, consisting of conventional generators, utility-scale storage, and distributed energy resource aggregators. We show that uniform pricing mechanisms require discriminative out-of-the-market uplifts, making settlements under locational marginal pricing (LMP) discriminative. It is shown that the temporal locational marginal pricing (TLMP) that adds nonuniform shadow prices of ramping and state-of-charge to LMP removes the need for out-of-the-market uplifts. Truthful bidding incentives are also established for price-taking participants under TLMP. Revenue adequacy and uplifts are evaluated in numerical simulations.
Code (0)
등록된 구현이 없습니다.
Similar Papers 제목 키워드 기반
Stochastic Path-Dependent Volatility Models for Price-Storage Dynamics in Natural Gas Markets and Discrete-Time Swing Option Pricing
This paper is devoted to the price-storage dynamics in natural gas markets. A novel stochastic path-dependent volatility model is introduced with path-dependence in both price volatility and storage increments. Model cal…
Deep LearningCloud Storage for Multi-Service Battery Operation (Extended Version)
We study a cloud storage operator who provides shared storage service for electricity end-users using the residual part of a multi-service grid-scale battery primarily used for high priority grid services. We design an o…
BlockingRTEStochastic OptimizationTime-of-use Pricing for Energy Storage Investment
Time-of-use (ToU) pricing is widely used by the electricity utility to shave peak load. Such a pricing scheme provides users with incentives to invest in behind-the-meter energy storage and to shift peak load towards low…
Pricing Energy Storage in Real-time Market
The problem of pricing utility-scale energy storage resources (ESRs) in the real-time electricity market is considered. Under a rolling-window dispatch model where the operator centrally dispatches generation and consump…
Charge Scheduling of an Energy Storage System under Time-of-use Pricing and a Demand Charge
A real-coded genetic algorithm is used to schedule the charging of an energy storage system (ESS), operated in tandem with renewable power by an electricity consumer who is subject to time-of-use pricing and a demand cha…
Scheduling