@article { ,
	title = {On optimal participation in the electricity markets of wind power plants with battery energy storage systems},
	journal = {Computers and Operations Research},
	volume = {96},
	year = {2018},
	month = {08/2018},
	pages = {316-329},
	publisher = {Elsevier},
	abstract = {The recent cost reduction and technological advances in medium- to large-scale battery energy storage systems (BESS) makes these devices a true alternative for wind producers operating in electricity markets. Associating a wind power farm with a BESS (the so-called virtual power plant (VPP)) provides utilities with a tool that converts uncertain wind power production into a dispatchable technology that can operate not only in spot and adjustment markets (day-ahead and intraday markets) but also in ancillary services markets that, up to now, were forbidden to non-dispatchable technologies. What is more, recent studies have shown capital cost investment in BESS can be recovered only by means of such a VPP participating in the ancillary services markets. We present in this study a multi-stage stochastic programming model to find the optimal operation of a VPP in the day-ahead, intraday and secondary reserve markets while taking into account uncertainty in wind power generation and clearing prices (day-ahead, secondary reserve, intraday markets and system imbalances). A case study with real data from the Iberian electricity market is presented.},
	keywords = {research; Battery energy storage systems; Electricity markets; Ancillary services market; Wind power generation; Virtual power plants; Stochastic programming; paper},
	URL = {https://doi.org/10.1016/j.cor.2018.03.004},
	author = {F.-Javier Heredia and Marlyn D. Cuadrado and Cristina Corchero}
}

