Energy Storage Arbitrage in Two-settlement Markets: A Transformer-Based Approach

arXiv:2404.17683v1 Announce Type: cross
Abstract: This paper presents an integrated model for bidding energy storage in day-ahead and real-time markets to maximize profits. We show that in integrated two-stage bidding, the real-time bids are independent of day-ahead settlements, while the day-ahead bids should be based on predicted real-time prices. We utilize a transformer-based model for real-time price prediction, which captures complex dynamical patterns of real-time prices, and use the result for day-ahead bidding design. For real-time bidding, we utilize a …

abstract arxiv bidding cs.gt cs.lg cs.sy eess.sy energy energy storage independent markets math.oc paper profits real-time settlement show stage storage transformer type while