Decision-making Method for Pumped Storage Power Stations in the Electricity Energy and Frequency Regulation Markets

• DOI: 10.23919/cjee.2024.000084
• Publication Date: 2024-07-11T18:16:01Z
• Authors: Man Chen; Hongtao Zhu; Yumin Peng; Xuan Wang; Xuefeng Zhang; Yijun Xiong; Lianfu Chen; Yikai Li; Bushi Zhao
• Keywords: Market clearing; Stand-alone power system

With the establishment of "carbon peaking and carbon neutrality" goals in China, along with development a new power system ongoing electricity market reforms, pumped storage stations (PSPSs) will increasingly play significant role system. It is for this reason that study focuses on trading bidding strategies PSPSs market. Firstly, comprehensive framework participating energy frequency regulation (FR) ancillary service proposed. Subsequently, two-layer model developed to achieve joint clearing The upper-layer aims at maximizing revenue station by optimizing strategies, where Q-learning algorithm used. While lower-layer minimizes total purchasing cost Finally, proposed bi-level validated studying an actual case, whose data are obtained from provincial China. results indicate that, through decision-making method, can higher economic revenues markets, which provide reference planning operation PSPSs.