This paper examines the participation of multiple competing strategic profit-maximizing energy storage in a spot electricity market and its impact on consumers, producers, and market equilibria. To this end, we develop a two-stage stochastic bi-level model that has each energy-storage firm determine its market offers at the upper level to .
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By storing excess energy during periods of high generation and releasing it during periods of low generation, energy storage systems can help stabilize the grid and ensure a continuous power supply. Furthermore, advanced forecasting techniques have been developed to predict the output of renewable energy sources more accurately.
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[SMM Analysis] In September 2024, the total scale of winning bids for energy storage projects was 5.2GW/11.2GWh, down 58.5% month-on-month from August. The proportion of energy storage on the source and grid side accounted for 99%. The winning volume of energy storage systems was 2.01GW/4.34GWh, with the highest proportion being 0.5C rate.
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