Multi-market Scheduling of Battery Storages Within Renewable Portfolios

Ahstract- This paper presents a multi-market scheduling model for a battery storage within a mixed Wind/PV portfolio. Markets considered in the decision making are day-ahead market, intra-day market, balancing market and imbalance settlement procedure. Comprehensive optimization framework presented in this paper depicts revenue opportunities more accurately assuming a typical market structure. Market related decision parameters are formulated in a probabilistic manner adopting autoregressive models. Model validation is performed on a realistic case study clearly depicting the benefits of the presented model.