TITLE:
Optimal Control and Bidding Strategy of Virtual Power Plant with Renewable Generation
AUTHORS:
Yuchang Kang, Kwoklun Lo
KEYWORDS:
Virtual Power Plant, Electricity Market, Distributed Energy Resources
JOURNAL NAME:
World Journal of Engineering and Technology,
Vol.4 No.3D,
October
20,
2016
ABSTRACT:
A Virtual Power Plant (VPP), aggregating the capacities of distributed energy resources (DER) as a single profile, provides presence of DERs in the electricity market. In this paper, a stochastic bidding model is proposed for the VPP to optimise the bids in the day-ahead and balancing market, with the objective to maximise its expected economic profit. The performance of proposed strategy has been assessed in a modified commercial VPP (CVPP) system with wind generation installed, and also the results are compared with the ones achieved from other commonly-used strategies to verify its feasibility.