## 5 Numerical Results
### Case 3--Profit Maximization with Reliability Constraint and Incentives by the Committee  
Figure 13 illustrates operations of the BESS coordinated with the renewables, considering the reliability constraints imposed by the reliability commission and the additional incentives for the energy discharged from the BESS. As presented in Figure 12(d), due to the additional incentives introduced for the energy discharged from the BESS, the BESS coordinated with the PV discharged considering patterns of the SMP, because the SMP was greater than the price of the REC during the interval when the BESS was scheduled to discharge. Tables 13 and 14 presented a comparison of the revenue generated from the profit-maximized portfolio without reliability incentives to the revenue generated from the profit maximization with incentives; the difference in the revenue from SMP was calculated to be approximately 0.77% for the portfolio with the PV and the BESS, whereas the revenue from REC1 and REC5 did not change at all. In the case of the revenue generated from the \begin{table}
\begin{tabular}{c c c c c} \hline \hline \multirow{2}{*}{**Resource**} & **Revenue from** & **Revenue from** & **Revenue from** & **Total Revenue** \\  & **SMP** & **REC1** & **REC5** & **(KRW/USD)** & **(KRW/USD)** \\ \hline \multirow{2}{*}{PV–BESS} & KRW 572,670 & KRW 329,411 & KRW 569,239 & KRW 1,471,319 \\  & USD 480.71 & USD 276.52 & USD 477.83 & USD 1235.06 \\ \hline \multirow{2}{*}{WPG–BESS} & KRW 3,205,115 & KRW 2,543,911 & KRW 42,878 & KRW 5,791,904 \\  & USD 2690.46 & USD 2135.43 & USD 35.99 & USD 4861.88 \\ \hline \hline \end{tabular}
\end{table} 
Table 11: Intraday revenue generated from the scheduling methods with profit maximization. \begin{table}
\begin{tabular}{c c c c c} \hline \hline \multirow{2}{*}{**Resource**} & **Revenue from** & **Revenue from** & **Revenue from** & **Total Revenue** \\  & **SMP** & **REC1** & **REC5** & **(KRW/USD)** \\  & **(KRW/USD)** & **(KRW/USD)** & **(KRW/USD)** \\ \hline \multirow{2}{*}{PV–BESS} & KRW 571,753 & KRW 329,411 & KRW 569,239 & KRW 1,470,402 \\  & USD 479.94 & USD 276.52 & USD 477.83 & USD 1234.30 \\ \hline \multirow{2}{*}{WPG–BESS} & KRW 3,205,115 & KRW 2,543,911 & KRW 42,878 & KRW 5,791,904 \\  & USD 2690.46 & USD 2135.43 & USD 35.99 & USD 4861.88 \\ \hline \hline \end{tabular}
\end{table} 
Table 12: Intraday revenue generated with profit maximization with reliability constraints. However, as illustrated in Figure 10b, this was because the seasonal peak period from 09:00 to 12:00, which had the greatest SMP, coincided with outputs of the PV, because the case reflected the current control scheme with a fixed interval for BESS operation and virtually no output control. In the case of the portfolio with the WPG and the BESS in the base case, the correlation between them was determined to be \(-0.3014\), indicating that management of the output control at the PCC was conducted in contrast to the purpose not only from the SO's perspective, but also from the AO's perspective. However, after the control algorithm was introduced, the output control considered patterns of SMP on the day, which was indicated by the greater correlation of 0.2034. The correlations determined between Case 2 and Case 3 by the resource portfolio with the PV and the BESS did not exhibit significant differences. One of the plausible reasons for the change in the pattern of the output control is the introduced reliability constraint, because the schedule of the BESS had to be shifted due to the maximum output limit. However, because an incentive for energy discharge from the BESS was introduced in Case 3, the output control was managed with greater sensitivity to patterns of the SMP, whereas the correlation with the resource portfolio with the WPG and the BESS did not significantly improve due to the negligible capacity of the BESS installed. Table 16 presents the correlations derived from scheduled operations of the BESS.