One of the many miracles of Victorian Britain’s market economy was that it worked most efficiently when it was left to regulate itself – or at least, this is what the great majority of Victorians believed. The prevailing economic orthodoxy throughout the nineteenth century assumed, following...

Accurately valuing storage in the electricity market recognizes its role in enhancing grid flexibility, integrating renewable energy, managing peak loads, providing ancillary services and improving market efficiency. In this paper we outline an optimal trading problem for an Energy Storage...