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Virtual power plants (VPPs) are an effective platform for attracting private investment and customer engagement to speed up the integration of green renewable resources. In this paper, a robust bidding strategy to participate in both energy and ancillary service markets in the wholesale electricity market is proposed for a realistic VPP in Western Australia. The strategy is accurate and fast, so the VPP can bid in a very short time period. To engage customers in the demand management schemes of the VPP, the gamified approach is utilized to make the exercise enjoyable while not compromising their comfort levels. The modelling of revenue, expenses, and profit for the load-following ancillary service (LFAS) is provided, and the effective bidding strategy is developed. The simulation results show a significant improvement in the financial indicators of the VPP when participating in both the LFAS and energy markets. The payback period can be improved by 3 years to the payback period of 6 years and the internal rate of return (IRR) by 7.5% to the IRR of 18% by participating in both markets. The accuracy and speed of the proposed bidding strategy method is evident when compared with a mathematical method. [ABSTRACT FROM AUTHOR]

Many distribution transformers have already exceeded half of their expected service life of 35 years in the infrastructure of Western Power, the electric distribution company supplying southwest of Western Australia, Australia. Therefore, it is anticipated that a high investment on transformer replacement happens in the near future. However, high renewable integration and demand response (DR) are promising resources to defer the investment on infrastructure upgrade and extend the lifetime of transformers. This paper investigates the impact of rooftop photovoltaic (PV) integration and customer engagement through DR on the lifetime of transformers in electric distribution networks. To this aim, first, a time series modelling of load, DR and PV is utilised for each year over a planning period. This load model is applied to a typical distribution transformer for which the hot-spot temperature rise is modelled based on the relevant standard. Using this calculation platform, the loss of life and the actual age of distribution transformer are obtained. Then, various scenarios including different levels of PV penetration and DR contribution are examined, and their impacts on the age of transformer are reported. Finally, the equivalent loss of net present value of distribution transformer is formulated and discussed. This formulation gives major benefits to the distribution network planners for analysing the contribution of PV and DR on lifetime extension of the distribution transformer. In addition, the provided model can be utilised in optimal investment analysis to find the best time for the transformer replacement and the associated cost considering PV penetration and DR. The simulation results show that integration of PV and DR within a feeder can significantly extend the lifetime of transformers.