Cost Calculation for Energy Storage’s Providing Ancillary Services for Frequency and Voltage

The provision of ancillary services by energy storage is becoming increasingly common in power systems. However, the lack of methodology accurately calculating their costs has constrained the development of energy storage. This paper primarily discusses a method for calculating the costs of ancillary services provided by the energy storage alongside the traditional thermal generators. Firstly, models for ancillary services provided by both energy storage and thermal power units are established. Secondly, the system’s demand for ancillary services is reflected through the system frequency regulation model and the system voltage regulation model. Subsequently, a power system dispatch model incorporating multiple ancillary services provided by energy storage is developed. This dispatch model is then solved to obtain the dual multipliers corresponding to the ancillary service constraints, which are utilized to derive the costs of ancillary services provided by energy storage. Finally, the method is applied through simulation to a modified IEEE 14-bus system. This paper provides a reference for the pricing of ancillary services provided by energy storage.