Journal of Electrical Engineering and Automation

With the increase in the proportion of renewable energy, the power system is facing frequent supply-demand fluctuations, and traditional frequency regulation methods have struggled to meet the needs of the electricity market. As a flexible and efficient energy regulation means, energy storage systems (ESS) have demonstrated great potential in participating in frequency regulation services of the electricity market. This paper analyzes the economy of ESS in frequency regulation services, discusses optimized participation strategies, and proposes a scheme to optimize ESS participation in frequency regulation services through economic dispatch models and market mechanism improvements. The study shows that ESS can effectively reduce frequency regulation costs and enhance the operational stability of the power system. Optimizing ESS dispatch strategies is of great significance for improving the economic benefits of the power system.

Energy storage system; Electricity market; Frequency regulation service; Economic analysis; Optimization strategy