Please use this identifier to cite or link to this item: http://bura.brunel.ac.uk/handle/2438/23520
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dc.contributor.authorKhaloie, H-
dc.contributor.authorToubeau, J-F-
dc.contributor.authorVallee, F-
dc.contributor.authorLai, CS-
dc.contributor.authorLai, LL-
dc.contributor.authorYan, M-
dc.date.accessioned2021-11-15T13:17:27Z-
dc.date.available2021-11-15T13:17:27Z-
dc.date.issued2021-09-07-
dc.identifierORCiD: Chun Sing Lai https://orcid.org/0000-0002-4169-4438-
dc.identifier.citationKhaloie, H. et al. (2021) 'Battery Storage Energy Arbitrage Under Stochastic Dominance Constraints: A New Benchmark Selection Approach,' 2021 IEEE International Conference on Environment and Electrical Engineering and 2021 IEEE Industrial and Commercial Power Systems Europe (EEEIC / I&CPS Europe), Bari, Italy, 7-10 September, pp. 1-6, doi: 10.1109/EEEIC/ICPSEurope51590.2021.9584781.en_US
dc.identifier.isbn978-1-6654-3613-7 (ebk)-
dc.identifier.isbn978-1-6654-3614-4 (PoD)-
dc.identifier.isbn978-1-6654-3614-4 (CD)-
dc.identifier.urihttps://bura.brunel.ac.uk/handle/2438/23520-
dc.description.abstractThis paper presents an energy arbitrage strategy of a lithium-ion Battery Storage System (BSS) in sequential Day-ahead and Intraday (DA+INT) markets, considering its Cycle Aging Cost (CAC). One of the critical queries of the BSS in such problems is how to tackle the risk of uncertain prices in both market floors. Towards this end, a financial risk management method, i.e., Second-Order Stochastic Dominance Constraints (SOSDCs), is used to control the risk of uncertain market prices. Despite the promising performance of the SOSDCs over a broad range of decision-making problems, the primary challenge for decision-makers taking advantage of this approach is the selection of the minimum profit threshold. To effectively overcome this obstacle, this paper proposes a new benchmark selection approach based on a fuzzy decision-making manner over in-sample and out-of-sample analyses. The idea behind considering both in-sample and out-of-sample studies lies in an unforeseen change of the results by setting various benchmarks in SOSDCs. In this regard, to precisely formulate this problem, with an eye on the battery CAC, a linear two-stage stochastic framework is suggested. The numerical results show the applicability of the developed approach in benchmark selection for the SOSDCs.-
dc.format.extent1 - 6-
dc.format.mediumPrint-Electronic-
dc.format.mediumPrint-Electronic-
dc.language.isoen_USen_US
dc.publisherInstitute of Electrical and Electronics Engineers (IEEE)en_US
dc.rights© 2021 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.-
dc.rightsCopyright © 2021 Institute of Electrical and Electronics Engineers (IEEE). Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works. See: https://journals.ieeeauthorcenter.ieee.org/become-an-ieee-journal-author/publishing-ethics/guidelinesand-policies/post-publication-policies/-
dc.rights.urihttps://journals.ieeeauthorcenter.ieee.org/become-an-ieee-journal-author/publishing-ethics/guidelinesand-policies/post-publication-policies/-
dc.source2021 IEEE International Conference on Environment and Electrical Engineering and 2021 IEEE Industrial and Commercial Power Systems Europe (EEEIC / I&CPS Europe)-
dc.source2021 IEEE International Conference on Environment and Electrical Engineering and 2021 IEEE Industrial and Commercial Power Systems Europe (EEEIC / I&CPS Europe)-
dc.subjectarbitrageen_US
dc.subjectbattery storage system (BSS)en_US
dc.subjectbenchmark selectionen_US
dc.subjectcycle aging cost (CAC)en_US
dc.subjectstochastic dominance constraintsen_US
dc.titleBattery Storage Energy Arbitrage Under Stochastic Dominance Constraints: A New Benchmark Selection Approachen_US
dc.typeConference Paperen_US
dc.identifier.doihttps://doi.org/10.1109/eeeic/icpseurope51590.2021.9584781-
dc.relation.isPartOf2021 IEEE International Conference on Environment and Electrical Engineering and 2021 IEEE Industrial and Commercial Power Systems Europe (EEEIC / I&CPS Europe)-
pubs.finish-date2021-09-10-
pubs.finish-date2021-09-10-
pubs.publication-statusPublished-
pubs.start-date2021-09-07-
pubs.start-date2021-09-07-
dcterms.dateAccepted2021-07-20-
dc.rights.holderInstitute of Electrical and Electronics Engineers (IEEE)-
Appears in Collections:Dept of Electronic and Electrical Engineering Research Papers

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