A Clearing Model Considering Pumped Storage Generators in Day-Ahead Market

The consideration of pumped storage models in electricity spot market is increasingly recognized as essential for efficient market operation and planning. Pumped storage significantly contributes to addressing the variability of renewable energy sources and managing peak demand periods. Incorporating pumped storage models enhances market flexibility, improves price stability, and supports grid reliability by optimizing generation dispatch and smoothing out supply-demand imbalances. This study introduces a clearing approach that integrates pumped storage models into electricity spot markets. A case study is presented to demonstrate the economic efficiency and stability benefits for the power grid.