Research on Trading Optimization Model of Virtual Power Plant in Medium- and Long-Term Market

Yungao Wu, Jing Wu and Gejirifu De
Additional contact information
Yungao Wu: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Jing Wu: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Gejirifu De: School of Electrical and Electronic Engineering, North China Electric Power University, Beijing 102206, China

Energies, 2022, vol. 15, issue 3, 1-17

Abstract: In the medium- and long-term market, the power generation side and the power purchase side ensure to avoid the fluctuation of delivery prices through the medium- and long-term power contract, to avoid some market risks. This paper combines virtual power plants to aggregate distributed renewable energy to participate in market transactions. Firstly, this paper analyzes the two operation modes of power markets and combs the transaction varieties and modes in the medium- and long-term market. Secondly, the common contract power decomposition methods in the medium- and long-term market are analyzed, and the revenue model of virtual power plants is established. Then, combined with the renewable energy quota system and the green certificate trading mechanism, this paper constructs an optimization model of medium- and long-term contract trading of virtual power plants considering renewable energy derivatives. Finally, different renewable energy output scenarios are designed to analyze the benefits of virtual power plants in centralized and decentralized power markets. The example analysis shows the effectiveness of price difference contract for virtual power plants to ensure the renewable power revenue, which provides a certain reference for virtual power plants to participate in the power market.

Keywords: virtual power plant; medium- and long-term power market; contract for difference (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/1996-1073/15/3/759/pdf (application/pdf)
https://www.mdpi.com/1996-1073/15/3/759/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:15:y:2022:i:3:p:759-:d:729658

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().