The flexibility incentives on the electricity markets of Australia and Bangladesh via the BESS technology and DR technology were the main objective of this thesis. The existing electricity market assessment of both countries showed that, Australia has the existing market infrastructure to use and benefit from the technologies whereas it is the exact opposite scenario in Bangladesh. Four BESS cases were selected for the analyses of the Australian electricity market (Hornsdale power reserve project, Gannawarra energy storage system, Ballarat energy storage system and Lake Bonney battery energy storage system).
The FCAS lower ancillary services market was evaluated to analyze how these four BESS technologies can participate there and what is the profitability of it. One-week market data from October 21, 2019 to October 27, 2019 was used to estimate the peak price for the whole year. The price was 0.91 c/kWh which is the daily average peak price of that week.
The annual revenue, payback period and profit margin for a 10-year time period were all calculated to find out the business case scenario of BESS. The results showed, the investment cost would return within two and a half years. Then from the next year, the BESS systems continue to make profit. BESS can help Bangladesh electricity market to maintain the power balance, avoid system black out events and it can help them reduce their electricity import from India.
The DR technology requires smart meter, so that the customers can get signals about the peak hours and also to validate the DR actions. Once the customers know about the higher prices of peak hours, they can adjust their consumption pattern. In Australia there is an existing system that help them perform the DR mechanism. Whereas in Bangladesh, there is no smart metering system and as of now Bangladesh do not utilize DR technology.
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APPENDICES
Appendix A. Battery Specification
The prices in this table are in Australian Dollar (AUD).
Hornsdale
73 Appendix B. FCAS price data
These are FCAS regulation lower control services price data from 21 October 2019 to 27 October 2019.
74 10:00 0.3983 0.06323 0.47185 0.16516 0.16167 0.31908 0.1763 10:30 0.50348 0.2279 0.19 0.1717 0.15831 0.25105 0.68563 11:00 0.41265 0.33135 0.14784 0.15834 0.12736 0.12508 0.27699 11:30 0.16 0.11518 0.10007 0.16 0.23768 1.19229 0.1649 12:00 0.43053 0.35152 0.15267 0.19 0.44 0.41353 0.64634 12:30 0.42501 0.18004 0.21198 0.42415 0.39512 0.06588 0.57866 13:00 0.16319 0.22869 0.38532 0.03997 0.26395 0.53792 0.46444 13:30 0.28272 0.19 0.16992 0.17258 0.35482 0.05805 0.43174 14:00 0.41396 0.34754 0.24362 0.15315 0.15075 0.52393 0.39181 14:30 0.41352 0.17502 0.73078 0.2224 0.17864 0.37525 0.235 15:00 0.49911 0.30281 0.08347 0.18149 0.1583 0.24237 0.31349 15:30 0.41817 0.11369 0.07167 0.20394 0.44 0.15667 0.2818 16:00 0.44168 0.191 0.19 0.41817 0.44 0.16668 0.48877 16:30 0.43946 0.18498 0.19 0.175 0.10315 0.31707 0.03 17:00 0.16865 0.19 0.0692 0.19171 0.15669 0.22139 0.14905 17:30 0.94596 0.30375 0.43406 0.18704 0.40988 0.52348 0.26361 18:00 0.51345 0.19909 0.24953 0.07 0.16 0.43987 0.22873 18:30 0.52306 0.19332 0.39712 0.07342 0.12092 0.6953 0.19 19:00 0.38993 0.40633 0.17697 0.1734 0.30645 0.43878 0.27267 19:30 0.43588 0.19 0.45246 0.17873 0.23001 0.43958 0.73468
20:00 0.30418 0.19 0.2311 0.1617 0.44 0.44 0.03
20:30 0.16 0.43147 0.22421 0.21418 0.47444 0.36891 0.29501 21:00 0.33057 0.19 0.19 0.07 0.54261 0.42314 0.72933 21:30 0.43948 0.36617 0.46515 0.42635 0.59282 0.45807 0.16
75 22:00 0.1078 0.61671 0.49147 0.26799 0.16052 0.16 0.16997 22:30 0.39159 0.26846 0.2696 0.17001 0.08334 0.16 0.35687 23:00 0.13684 0.27413 0.08438 0.07 0.28067 0.39743 0.19333 23:30 0.14909 0.14524 0.2338 0.40935 0.44 0.16554 0.2736