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- W4225851330 abstract "It is anticipated that large-scale energy storage facility (ESF) will become an essential part of the future energy markets to increase the penetration of renewables. In this paper, a new optimization algorithm is developed to participate in large-scale merchant ESF to deal with renewables fluctuations. The ESF is an investor-owned and independently-operated, seeking to maximize its total profit while hedging the system against net-load variation. To do so, an exact computationally efficient bi-level mixed-integer linear programming (MILP) is envisaged. The ESF operator tries to maximize its own profit at the upper level while ISO seeks to clear the markets at the lower level. In principle, the ESF will be able to construct its bidding/offering curves to buy/sell from/to different markets. To maintain the tractability of the problem, each lower level is replaced by its KKT optimality conditions, and nonlinearities are converted into linear equivalents using strong duality theory rendering the single-level MILP and consequently recast as an MPEC. Additionally, the proposed framework is constructed according to the information gap decision theory (IGDT) instrument to capture the adverse impact of uncertainty on the profit of ESF." @default.
- W4225851330 created "2022-05-05" @default.
- W4225851330 creator A5040178573 @default.
- W4225851330 creator A5045720665 @default.
- W4225851330 date "2022-03-01" @default.
- W4225851330 modified "2023-09-29" @default.
- W4225851330 title "Increasing the Peneteration of Renewables by Releasing Merchant Energy Storage Flexibility" @default.
- W4225851330 doi "https://doi.org/10.48550/arxiv.2203.00280" @default.
- W4225851330 hasPublicationYear "2022" @default.
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