In recent years, there has been a significant increase in energy produced by sustainable resources like windand solar power plants. This led to a shift from traditional energy systems to so-called smart grids (i.e., distributed systems of energy suppliers and consumers). While the sustainable energy resources are very appealing from an environmental point of view, their volatileness renders the...

Securing profits from energy, reserve capacity and balancing markets is critical to ensure the profitability of battery energy systems (BES). However, intimate connection between offers on these trading floors combined with limited storage BES renders its scheduling very complex. In this paper, we develop a bilevel optimization problem for strategic participation in day-ahead energy-reserve mar...

With large-scale integration of renewable generation, energy storage is expected to play an important role in providing flexibility systems. In this paper, the authors construct a trilevel Stackelberg game model study co-investment merchant and regulated reserve markets. The upper-level problem profit-maximizing investment with desired rate-of-return solved by investor. middle-level problem, sy...