Impact of grid-scale energy storage systems on energy and frequency regulation Colombian markets



BESS, Co-optimization, MILP, Colombian energy market


This article proposes a co-optimization model that allows evaluating the simultaneous participation of energy storage systems (ESS) in arbitrage applications, secondary frequency regulation, and transmission investment deferral. The model considers the ESS degradation through an upper-piecewise linear approximation; constraints related to primary frequency energy reserve are also included in the model. The formulation is evaluated using historical data from the Colombian wholesale energy market. Eight case studies corresponding to the possible combinations of ESS participation in the three applications are analyzed. Subsequently, a financial evaluation is carried out for each case study, both from the system and the investor's point of view. The results show that the exclusive use of ESS to provide arbitrage is not economically viable in Colombia, while simultaneously providing secondary frequency regulation and restriction relief services is profitable, both for the system and for an investor agent.


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Author Biographies

Andres Felipe Peñaranda Bayona, Universidad Nacional de Colombia

Andres Felipe Penaranda Bayona received the Electrical Engineering degree from Universidad Nacional de Colombia, Colombia, in 2018. He is currently pursuing a M.Sc student at Universidad Nacional de Colombia, where he is working on research topics related to grid-scale energy storage systems, power systems, energy markets.

David Fernando Romero Quete, Universidad Nacional de Colombia

David Romero Quete received the Electrical Engineering degree from Universidad Nacional de Colombia, Colombia, in 2012, the M.Sc. degree from Université de Lyon I, France, in 2014 and the Ph.D. degree in Electrical Engineering from Universidad Nacional de Colombia, Colombia, in 2019. Currently, he is a postdoctoral researcher and lecturer at Universidad Nacional de Colombia, where he is working on research topics related to microgrids, smart grids, and grid-scale energy storage systems.

Camilo Andrés Cortés Guerrero, Universidad Nacional de Colombia

Camilo Andres Cortes Guerrero (StM'99-M'05-SM'19) received the B. Eng. degree (5 years) from Universidad Nacional de Colombia in 2000 and the Ph.D. degree (with honors) from Universidad Nacional de San Juan, Argentina in 2005. He was doctoral visiting student in 2002 at the FH Giessen-Friedberg and the NLÖ, Hannover, Germany. From 2005 to 2007, he was professor of Universidad de la Salle, Bogotá, Colombia. In 2006, he was postdoctoral visiting scholar at the Katholieke Universiteit Leuven, Belgium. From 2015 to 2016, he was a visiting researcher at the Galvin Center for Electricity Innovation, Illinois Institute of Technology, USA. Since 2008, he has been a Professor of Universidad Nacional de Colombia, Bogotá Campus.

Ernesto Moreno Restrepo, Grupo Energía Bogotá

Ernesto Moreno Restrepo studied electrical engineering at the Universidad de los Andes and earned a postgraduate degree in marketing from Universidad EAFIT, a postgraduate degree in Business Administration from the Universidad del Rosario and a postgraduate degree in general management from the International Institute of Electric Power in Texas, USA. He began his career as an engineer at Ingetec-Engineers and Consultants and, since 1980, he has worked at the Bogotá Energy Company (now GEB), where he has held the following positions: Substation Engineer in the Department of Transmission Engineering (1980-1982), Head of the Transmission Lines Division (1982-1983), Head of the Department of Equipment Engineering (1983-1986), Assistant Director of Operations (1986-1989), Head of the Electrical Engineering Division (1989-1990), Head of the Electricity Generation Division (1990-1994), Head of the Electrical Plant Division (1994-1999) and Vice President of Transmission (1999-2021).


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How to Cite

Peñaranda Bayona, A. F., Romero Quete, D. F., Cortés Guerrero, C. A., & Moreno Restrepo, E. (2022). Impact of grid-scale energy storage systems on energy and frequency regulation Colombian markets. IEEE Latin America Transactions, 20(8), 2054–2062. Retrieved from



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