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Four‐level robust model for a virtual power plant in energy and reserve markets.
- Source :
- IET Generation, Transmission & Distribution (Wiley-Blackwell); Jun2019, Vol. 13 Issue 11, p2036-2043, 8p
- Publication Year :
- 2019
-
Abstract
- The integration of distributed energy resources into a virtual power plant (VPP) can realise the scale merit. This study presents a novel approach for determining the optimal offering strategy of a VPP participating in the day‐ahead (DA), the spinning reserve (SR), and the real‐time (RT) markets. To hedge against multi‐stage uncertainties, the authors propose a robust mixed integer linear programming optimisation model that comprises four levels: (i) the optimal DA energy and reserve dispatch; (ii) the worst‐case realisation of uncertainties involved in DA market energy prices, SR market capacity prices, stochastic power production, and called balancing power; (iii) the optimal RT energy re‐dispatch; and (iv) the worst‐case realisation of uncertain RT market energy prices. Moreover, a tractable solution method based on strong duality theory and the column‐and‐constraint generation algorithm to solve the proposed four‐level formulation was developed. Finally, numerical results for a realistic case study demonstrate the efficiency and applicability of the proposed approach. The commercial benefits of this strategy are also evaluated. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 17518687
- Volume :
- 13
- Issue :
- 11
- Database :
- Complementary Index
- Journal :
- IET Generation, Transmission & Distribution (Wiley-Blackwell)
- Publication Type :
- Academic Journal
- Accession number :
- 147997012
- Full Text :
- https://doi.org/10.1049/iet-gtd.2018.5197