Market Applications and Uncertainty Handling for Virtual Power Plants

Yujie Jin and Ciwei Gao ()
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Yujie Jin: College of Electrical Engineering, Shanghai University of Electric Power, Shanghai 200090, China
Ciwei Gao: College of Electrical Engineering, Southeast University, Nanjing 210096, China

Energies, 2025, vol. 18, issue 14, 1-27

Abstract: Virtual power plants achieve the flexible scheduling and management of power systems by integrating distributed energy resources such as renewable energy sources, energy storage systems, and controllable loads. However, due to the instability of renewable energy generation, load demand fluctuations, and market price uncertainty, virtual power plants face a gigantic challenge operating and participating in electricity markets. First, this paper outlines the functions and uncertainties of virtual power plants; then, it describes the uncertainties of virtual power plants in terms of aggregation, participation in market bidding, and optimal dispatch; finally, it summarizes the review.

Keywords: virtual power plant; uncertainty; optimal scheduling (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: 2025
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