Stochastic programming for valuing energy storage providing primary frequency control
(2016) 2016 IEEE International Energy Conference (ENERGYCON) — Location: Leuven, Belgium (4.April.2016)
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- Authors
Mercier, Thomas 
- Abstract
- This paper introduces a novel modelling of the economics of energy storages providing frequency containment reserves. The focus lies both on the practical operation of day-ahead markets and the stochastic and autocorrelation characteristics of the grid frequency as they are practical concerns for any energy storage operator. Based on yearly series of grid-frequency measurements we put in light seasonal trends in the grid frequency. After having removed these trends we build an ARMA-GARCH model with fat-tail feature to explain the remaining autocorrelation. The overall model can be used to generate scenarios of 15-minute time-step frequency deviations and we explain how these scenarios can be used along with stochastic programming to dispatch and compute the revenues of a storage providing frequency containment reserves. By considering two different cases, battery storage and variable-speed pumped-storage, the paper emphasizes the importance of the technical characteristics of energy storages providing frequency containment reserves.
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Citations
Mercier, T., Jomaux, J., & De Jaeger, E. (2016). Stochastic programming for valuing energy storage providing primary frequency control. 2016 IEEE International Energy Conference (ENERGYCON), Leuven, Belgium. https://hdl.handle.net/2078.5/229981