Optimal Participation of Heterogeneous, RES-Based Virtual Power Plants in Energy Markets

Oluwaseun Oladimeji, Álvaro Ortega, Lukas Sigrist, Luis Rouco, Pedro Sánchez-Martín and Enrique Lobato
Additional contact information
Oluwaseun Oladimeji: Institute for Research in Technology, Comillas Pontifical University, 28015 Madrid, Spain
Álvaro Ortega: Institute for Research in Technology, Comillas Pontifical University, 28015 Madrid, Spain
Lukas Sigrist: Institute for Research in Technology, Comillas Pontifical University, 28015 Madrid, Spain
Luis Rouco: Institute for Research in Technology, Comillas Pontifical University, 28015 Madrid, Spain
Pedro Sánchez-Martín: Institute for Research in Technology, Comillas Pontifical University, 28015 Madrid, Spain
Enrique Lobato: Institute for Research in Technology, Comillas Pontifical University, 28015 Madrid, Spain

Energies, 2022, vol. 15, issue 9, 1-19

Abstract: In this work, the optimal participation of heterogeneous, Renewable Energy Source (RES)-based Virtual Power Plant (VPP) in Day-Ahead Market (DAM) and Intra-Day Market (IDM) is studied. For this purpose, a detailed model of the RES-based VPP and of the market operation is needed. The VPP includes both dispatchable and non-dispatchable RESs and flexible demand assets. This paper presents an improved, linear solar thermal plant model to consider its non-linear efficiency curve. A novel demand model with two flexibility levels that are associated with the different market sessions is also proposed. The market operation allows for updates of energy offers and this is used by the VPP to submit DAM auctions and to participate subsequently in IDM to correct for deviations. Finally, the optimal participation of the VPP in energy markets is assessed under different weather conditions.

Keywords: day-ahead market; flexible load; intra-day market; renewable energy sources; solar thermal plants; virtual power plant (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:

Downloads: (external link)
https://www.mdpi.com/1996-1073/15/9/3207/pdf (application/pdf)
https://www.mdpi.com/1996-1073/15/9/3207/ (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:9:p:3207-:d:803788

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 ().