Abstract

Virtual power plants can effectively aggregate dispersed multi-type demand-side resources, which is an effective way for demand-side resources to participate in the electricity market. A two-layer optimization model is constructed for virtual power plants to participate in the market bidding, using wind power, energy storage, gas turbine and demand response load to form a virtual power plant. The algorithm shows that this model helps the virtual power plant optimize its internal resource portfolio output according to the current market situation, and increases the marginal price and revenue by strategically adjusting the energy storage output to obtain more profit under the cost-optimal situation.

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