@inproceedings{cbe03c58434a417baae5f1531311cac3,
title = "Strategic Storage Operation in Energy and Reserve Markets: An AC-based Bilevel Approach",
abstract = "This paper proposes an AC-based bilevel Stackelberg game model to study the strategic storage operation in energy and reserve markets. In the upper-level problem, the price-maker storage bids and offers strategically to maximize its profit. The lower-level problem is the market-clearing problem based on alternating current optimal power flow (ACOPF) model. To obtain the global solution of the proposed model, we first linearize the ACOPF model and reformulate the bilevel model into a mathematical program with equilibrium constraints (MPEC). A six-bus illustrative example is used to compare and discuss strategic and centralized non-strategic storage operation behaviors and their impacts on the market-clearing outcomes.",
keywords = "ACOPF, energy storage, price maker, reserve market",
author = "Peiyao Guo and Zhao Yuan and Thomas Hamacher and Peri{\'c}, {Vedran S.}",
note = "Publisher Copyright: {\textcopyright} 2023 IEEE.; 2023 IEEE Power and Energy Society General Meeting, PESGM 2023 ; Conference date: 16-07-2023 Through 20-07-2023",
year = "2023",
doi = "10.1109/PESGM52003.2023.10252881",
language = "English",
series = "IEEE Power and Energy Society General Meeting",
publisher = "IEEE Computer Society",
booktitle = "2023 IEEE Power and Energy Society General Meeting, PESGM 2023",
}