This paper develops a coordinated SOC and state-of-health (SOH) balancing method for M-BESS energy management under frequency regulation. frequency regulation without any energy stor itical for maintaining a stable and reliable power grid. Literature proposes a method for fast frequency lity Jongho ngly important as RESs become more r the various energy. In this paper, we perform an economic analysis of a distributed energy storage participating in the PJM and NYISO regulation markets. The distributed storage consists of many small consumers' installed batteries. This paper firstly discusses the economic features. Abstract—This paper presents a Frequency Regulation (FR) model of a large interconnected power system including Energy Storage Systems (ESSs) such as Battery Energy Storage Sys-tems (BESSs) and Flywheel Energy Storage Systems (FESSs), considering all relevant stages in the frequency control. en-ergy (SOE), multi-use applications complicate the assessment of energy storage's resource-adequacy contribution. This paper develops three-step process to assess the.