Optimization Algorithms for Coordinated Interaction of Massive Source-Load-Storage Resources in Spot Markets

The high penetration of renewable energy resources in power systems introduces challenges such as peak load shifting and frequent start-up and shut-down of thermal power units. Enhancing the flexibility and economic efficiency of thermal units in electricity spot markets is crucial to address these issues. This paper presents an optimization model for the coordinated interaction of source-load-storage resources. The model accounts for start-up and shut-down costs based on the minimum generation cost declared by market players. A case study demonstrates the reliability and optimality of the proposed approach, showing significant improvements in total cost and unit behavior. The results underline the importance of integrating diverse energy resources and optimizing their coordination to achieve a stable and efficient power system.