What is it about?
This study determines the optimal offering strategy of a VPP participating in the day-ahead (DA), the spinning reserve (SR), and the real-time (RT) markets. A four-level robust optimization model is employed to hedge against multi-stage uncertainties involved in DA market energy prices, SR market capacity prices, stochastic power production, called balancing power, and RT market energy prices.
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Why is it important?
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.
Read the Original
This page is a summary of: Four-level Robust Model for a Virtual Power Plant in Energy and Reserve Markets, IET Generation Transmission & Distribution, March 2019, the Institution of Engineering and Technology (the IET), DOI: 10.1049/iet-gtd.2018.5197.
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