Look-Ahead Strategic Offering for a Virtual Power Plant: A Multi-Stage Stochastic Programming Approach
- Resource Type
- Conference
- Authors
- Zhao, Yuzhou; Liu, Rongpeng; Lei, Shunbo; Hou, Yunhe
- Source
- 2019 IEEE Innovative Smart Grid Technologies - Asia (ISGT Asia) Innovative Smart Grid Technologies - Asia (ISGT Asia), 2019 IEEE. :2991-2996 May, 2019
- Subject
- Communication, Networking and Broadcast Technologies
Components, Circuits, Devices and Systems
Computing and Processing
Engineered Materials, Dielectrics and Plasmas
Fields, Waves and Electromagnetics
Power, Energy and Industry Applications
Robotics and Control Systems
Signal Processing and Analysis
Transportation
Real-time systems
Energy storage
Programming
Uncertainty
Load management
Electricity supply industry
Indexes
Virtual power plant
strategic offering
look-ahead operation
real-time electricity market
multi-stage stochastic programming
- Language
- ISSN
- 2378-8542
The increasing number of distributed energy resources on the distribution side has promoted the development of virtual power plants to become active market participants. Considering the uncertainty in the market price and the wind generation in a virtual power plant (VPP) in the real-time operation, this paper proposes a look-ahead real-time offering strategy using a multistage stochastic programming formulation within each look-ahead horizon. We test the proposed model on a small virtual power plant. The supply offer curve and the demand offer curve for different market price cases are determined, and the operating states for the VPP system and its components under different scenarios are also obtained. Using the proposed look-ahead approach, the VPP can determine the rolling offer curves continuously to participate in the real-time electricity market.