Trading Strategy of Energy Storage Power Station Participating in the Joint Electric Energy and Frequency Modulation Ancillary Service Market

A trading strategy for energy storage power stations to participate in the market of the joint electric energy and frequency modulation ancillary services based on a two-layer market trading decision model is proposed in this paper. Firstly, a double-layer market trading decision model is constructed with the overall goal of maximizing the net income of the energy storage power station participating in the joint electric energy and frequency modulation ancillary service market. Then, the particle swarm optimization algorithm is used to solve the model by nested mixed integer linear programming method, and the optimal market trading strategy is obtained. Finally, an example analysis of the energy storage power station with rated parameters is carried out, and the market bidding situation is simulated. The energy storage participation in the market quotation and net income under the trading strategy in this paper and the conventional trading strategy are compared. The result of the example showed that the return rate of the energy storage power station under the trading strategy in this paper was increased by 8.14% compared with that of the conventional strategy. The operation life is extended by 51.1%, which verifies the superiority of the trading strategy in this paper.