Distributionally robust comprehensive declaration strategy of virtual power plant participating in the power market considering flexible ramping product and uncertainties

Zhang Yuanyuan, Zhao Huiru and Li Bingkang

Applied Energy, 2023, vol. 343, issue C, No S030626192300497X

Abstract: The volatility and randomness of renewable energy output make the flexible ramping ability demand of power system more urgent, and flexible ramping product (FRP) can effectively improve the flexibility of the power system. Virtual power plant (VPP) can regulate distributed generation, which is conducive to the regulation potential of flexible resources. To solve the problems of FRP and electric energy markets synergy and the wind power output uncertainty faced by the VPP in the declaration process, this paper proposes a comprehensive declaration strategy for the VPP to participate in the power market considering FRP and uncertainties. Firstly, this paper designs a synergistic trading mode covering flexibility resource demand determination and the virtual bidding curve formation for electric energy and FRP markets, in which the virtual bidding curve can reasonably compensate for the unit opportunity cost. Secondly, a comprehensive declaration-dispatching strategy decision-making model for VPP is constructed, and a two-stage distributed robust optimization (DRO) technology is used to deal with the wind power output uncertainty in the model, and flexible resources such as energy storage are used to mitigate energy deviation in the VPP. Finally, simulations implemented on a typical VPP are delivered to show that: 1) Virtual bidding curve realizes the accurate compensation for the units providing FRP. 2) Compared with the single market, VPP can increase the expected profit by 20.44% and reduce wind curtailment cost by 59.68% in the joint declaration of multi-markets.3) VPP can effectively suppress output uncertainty through energy storage system. 4) DRO model has significant advantages in data-driven, less conservative results and stable running time.

Keywords: Flexible ramping product (FRP); Virtual power plant (VPP); Synergistic trading mode; Comprehensive declaration strategy; Distributionally robust optimization (DRO); Uncertainty (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (5)

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DOI: 10.1016/j.apenergy.2023.121133

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