Transactive Coordination of Flexible Loads with Energy Storage through Day-ahead Scheduling

Energy storage is recently attracting greater interests as an another enabling technology for renewable integration in addition to flexible loads. In this paper, the optimal utilization of flexibility from both flexible loads and energy storage through price coordination is considered. In particular, a new transactive coordination is proposed to solve this problem through day-ahead scheduling. Both flexible loads and energy storage are treated as the participants along with generators in a day-ahead market with their own private and distinct objectives. An iterative market clearing method is developed to determine the day-ahead hourly locational marginal prices (LMPs), which takes into account the power flow constraints imposed by network interconnections. The simulation studies demonstrates the benefits of incorporating the flexibility of energy storage into the day-ahead scheduling.