Performance-based virtual power plant offering strategy incorporating hybrid uncertainty modeling and risk viewpoint

Arman Alahyari, David Pozo

    Research output: Contribution to journalArticlepeer-review

    2 Citations (Scopus)

    Abstract

    Virtual power plants (VPPs) are considered the next generation of power plants where they aggregate the distributed energy resources (DERs) aiming to participate in different electricity markets. Many of the aggregated DERs within the VPP have ambiguous future performance. Thus, to maximize profit in the electricity market, VPP needs offering curve construction approaches that could deal with different sources of uncertainty. In this study, we investigate the VPP participation problem in the day-ahead electricity market. We propose strategies that can be utilized by a VPP to deal with uncertainty from both risk-averse and profit-seeking viewpoints. Thorough numerical studies and out-of-sample analysis demonstrate the given approaches’ features and their superiority over the existing methods in the literature.

    Original languageEnglish
    Article number107632
    JournalElectric Power Systems Research
    Volume203
    DOIs
    Publication statusPublished - Feb 2022

    Keywords

    • Distributed energy resource
    • Electric vehicle
    • Renewable generation
    • Uncertainty
    • Virtual power plant

    Fingerprint

    Dive into the research topics of 'Performance-based virtual power plant offering strategy incorporating hybrid uncertainty modeling and risk viewpoint'. Together they form a unique fingerprint.

    Cite this