Bi-level trading decision-making model for electric energy-frequency regulation markets

doi:10.3969/j.issn.2097-0706.2026.05.002

Abstract

Abstract:

Energy storage（ES）， as a new type of single-technology business entity with flexible regulation and rapid response capabilities， can simultaneously participate in multi-market trading such as electric energy and frequency regulation. To address the insufficient coordination of existing models， a bi-level optimization model was constructed for ES power stations to jointly participate in electric energy and frequency regulation markets. The upper level aimed to maximize revenue by optimizing bidding and scheduling strategies， while the lower level simulated market clearing with the goal of minimizing system electricity purchase costs. By introducing complementary slackness conditions and strong duality theory， the model was transformed into a mixed-integer linear programming problem， ensuring both solvability and scalability. Simulation results based on an IEEE 30-bus system demonstrated that the proposed strategy could reduce system electricity purchase costs by approximately 5.8% and increase the revenues of ES power stations by over 20%， thereby effectively enhancing resource allocation efficiency and economic benefits for market participants. This model can provide decision-making support and mechanism references for new entities such as ES power stations in multi-market trading.

Key words: energy storage system, multi-market trading, bi-level optimization model, mixed-integer linear programming, market clearing

CLC Number:

TK01：TM73

GUO Binglin, ZHANG Jingyu, ZANG Qiyong. Bi-level trading decision-making model for electric energy-frequency regulation markets[J]. Integrated Intelligent Energy, 2026, 48(5): 10-18.

Figures/Tables 10

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火电机组	额定功率/MW	电能量报价/ [元·(MW∙h)^-1]	调频里程报价/ (元·MW^-1)
G1	150	191	12
G2	110	183	15
G3	60	201	15
G4	80	190	18
G5	40	230	14
G6	40	192	16

场景编号	系统购电成本/万元	相对变化/%	成本构成说明
1	948.6	+5.45	火电为主供能，储能电站贡献小，备用费用较高
2	983.6	+9.35	储能电站承担调频，未参与供能，需额外购电
3	899.6		储能电站同时供能与调频，显著降低备用与购电成本

场景编号	储能电站总收益/ 万元	电能量市场收益/ 万元	调频市场收益/ 万元	电能量市场占比/%	调频市场占比/%
1	22.00	22.00	0	100	0
2	24.50	0	24.50	0	100
3	28.00	14.56	13.44	52	48