A study on the bidding strategy of the Virtual Power Plant in energy and reserve market

Autor: Huy Nguyen-Duc, Nhung Nguyen-Hong
Jazyk: angličtina
Rok vydání: 2020
Předmět:
Zdroj: Energy Reports, Vol 6, Iss , Pp 622-626 (2020)
Druh dokumentu: article
ISSN: 2352-4847
DOI: 10.1016/j.egyr.2019.11.129
Popis: This paper studies the bidding strategy of a Virtual Power Plant (VPP) in a market of energy and regulation service. The operation of distributed energy resources (DER) and battery energy storage inside the VPP is analyzed. A bidding strategy of the VPP including the spinning reserve contract and day-ahead offering/bidding contract is investigated. A two-stage robust optimization model is proposed to determine the VPP’s purchasing/sell power in each contract to maximize the VPP’s profit. The uncertainty in the DER and demand is considered in the optimization framework. The proposed model is applied to a small VPP including the photovoltaic (PV) system, battery energy storage (BESS) equipped in a customer. Keywords: Electricity market, Energy storage, Robust optimization, Spinning reserve, Virtual Power Plant
Databáze: Directory of Open Access Journals