PNNL

Abstract

This document provides various model formulations that will be implemented for the Energy Storage Participation Algorithm pilot competition (ESPA-Comp). This competition will assess the performance of different storage offer algorithms in terms of their ability to maximize the value of storage resources participating under various market designs that vary in the range of complexity of possible storage offers. The model formulations include a general market clearing optimization model and specification to implement it in various market designs. We provide specifications for three market designs to be tested in ESPA-Comp, which we call the two-settlement, multi-settlement, and rolling horizon forward markets. The market designs include different trading frequencies and offer formats. Storage resources participating in the market are provided with primitive values for the resource’s physical capabilities, and they are provided with a storage offer format that their algorithms will be tasked with populating. A detailed physical model is used to assess each storage resource’s ability to maintain its scheduled dispatch according to its state-of-charge, operating temperature, and power conversion efficiency.