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.
Highlights
In 2015, China began a new round of power system reform and gradually built a multilevel market system
In order to fully tap the vitality of the power market and establish an orderly market mechanism, the medium- and long-term market is taken as a starting point
micro turbine (MT)-CHPs can system respond to the dispatching instructions of virtual power plants (VPP) quickly and adjust the output uncertainty caused by distributed renewable energy generators (DREG)
Summary
In 2015, China began a new round of power system reform and gradually built a multilevel market system. Based on the construction of power market in Yunnan-Guizhou and the principles of system economy and fair distribution, Literature [7] proposed the optimal decomposition model of medium- and long-term contract power. Literature [10] constructs a transaction optimization model to realize full consumption of clean energy combined with the monthly bidding trading rules in the medium- and long-term market and the auxiliary services provided by thermal power units to ensure the system operation stability. Combined with the VPP aggregate of distributed resources, the contract transaction model considering two kinds of transaction modes is proposed, and the transaction optimization decision of VPP in the medium- and long-term contract market is further proposed.
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
