PNNL

Abstract

This document reports the development of the Wholesale Electricity Analysis via Simulation and Learning Experiments (WEASLE) platform and the pilot competition that was conducted to test the platform. Due to the increasing reliance on variable renewable energy resources for bulk power, the pilot competition, called the Energy Storage Participation Algorithm Competition (ESPA-Comp), was used to test the effect of various market designs on storage utilization and market efficiency. Basic details of the platform are provided, including an overview of the market clearing engine, the battery dispatch and degradation models, electric grid topology and resource mix, and software architecture. Two market designs were tested: a two-settlement market analogous to typical ISO design today, and a multi-settlement market that allows additional forward-trading periods during the real-time market. Results from the pilot competition show that the storage bidding problem is nontrivial and is well suited for future challenges. We find that: 1) all four teams utilized different approaches to the bidding problem, 2) different methodological approaches led to substantially different offer behaviors, 3) resource profits are clustered by team and methodological approach, 4) simulated offers reduced market surplus by about 0.5%, 5) substantially different prices between two-settlement and multi-settlement markets albeit minimal difference in overall market surplus.