BEST (Best Energy Storage Tool)

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BEST (Best Energy Storage Tool), is the tool designed by REF-e specifically for the simulation of the optimal bidding strategy and participation in the markets of a storage or a renewable plant coupled with a storage. In different forms of configuration, the model allows to provide a screening of business opportunities related to the storage development.

BEST simulates the optimal dispatching of a storage (possibly coupled to a renewable plant) on all the relevant market sessions within a scenario (final or provisional) with the aim of maximizing the economic value of the charge/discharge cycle, both on the energy markets (day-ahead and Intraday Day) and on the services markets (ex ante MSD and Balancing).

The expected technical-economic results (corresponding quantities and revenues on the various market sessions) are estimated considering:

  • technical constraints of the storage
  • different degrees of participation (only energy markets, only balancing, all markets)
  • price takers or price makers offering strategies
  • probability of acceptance consistent with the level of contestable demand for energy / services.

The economic results are evaluated in relation to the useful life of the storage, to estimate the degree of coverage of the investment costs, comparing the benchmark assumptions regarding CAPEX and OPEX of the storage. The IRR can be estimated and compared for alternative investments in different configurations and zones and used for different applications.

The profitability index is therefore evaluated with respect to the alternative values of the storage parameters (CAPEX, OPEX, sizing, location, number of cycles of the useful life) to evaluate a range of sensitivity around the estimated return on investment.

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