Analysis on Participation Strategy of Independent Energy Storage Station in Electricity Spot Market

To implement the carbon peaking and carbon neutrality goals, improving market mechanism to maximize the utilization of energy storage is attracting more and more attention. This paper addresses the trading strategy of independent energy storage station participating in both energy market and frequency regulation market. A restrictive coefficient of available capacity of energy storage participating in frequency regulation market is introduced, which characterizes the constraints of the energy storage between the two markets. Consequently, the market optimization model with the restrictive coefficient is constructed. Then, different strategies are set based on the capacity allocation of energy storage in the two markets, and the energy storage station’s role and revenue are analyzed. Simulations under different participation strategies are done, the results show that with the increase of renewable energy connected to the grid, taking the energy storage more as an excellent frequency regulation resource is beneficial to renewable energy consumption and system operation.