Abstract: With the scale of new energy growing continuously in Northwest China, the issue of wind and solar energy curtailment has become increasingly prominent. The most practical solution at present is to construct hybrid pumped storage power stations with greater energy storage capacity. Studying its bidding strategy in the spot market is of great significance. This paper constructs a Stackelberg game model and applies it in a case study of the cascade hybrid pumped storage power station under construction in the upper reaches of the Yellow River. For the power station, this model aims to maximize its profit in the day-ahead market by solving a bi-level optimization problem: the upper level for maximizing its revenue and the lower for solving the clearance problem faced by independent system operators. The results show that in the day-ahead market, this hybrid station will generate electricity by releasing water during high electricity prices, and pump water for energy storage during low prices. The revenue of the power station and new energy participating in the market through bundled bidding is higher than that of the joint participation without bundling, and both are higher than that of the hybrid station participating in the market alone.

Key words: hybrid pumped storage power station, day-ahead market, market clearing, bi-level optimization, abandon the wind and light