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- W4308216307 abstract "Wholesale market participation of storage with state-of-charge (SoC) dependent bids results in a non-convex cost in a multi-interval economic dispatch, which requires a mixed-integer linear program in the market clearing. We show that the economic dispatch can be convexified to the standard linear program when the SoC-dependent bid satisfies the equal decremental-cost ratio (EDCR) condition. Such EDCR bids are shown to support individual rationalities of all market participants in both the day-ahead multi-interval economic dispatch under locational marginal pricing and the rolling-window look-ahead dispatch under temporal-locational marginal pricing in the real-time market. A numerical example is presented to demonstrate a higher profit margin with an SoC-dependent bid over that from an SoC-independent bid." @default.
- W4308216307 created "2022-11-09" @default.
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- W4308216307 date "2022-09-27" @default.
- W4308216307 modified "2023-10-16" @default.
- W4308216307 title "Wholesale Market Participation of Storage with State-of-Charge Dependent Bids" @default.
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- W4308216307 doi "https://doi.org/10.1109/allerton49937.2022.9929382" @default.
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