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Mixed Integer Quadratic Programming Based Scheduling Methods for Day-Ahead Bidding and Intra-Day Operation of Virtual Power Plant

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  • Rakkyung Ko

    (The School of Electrical Engineering, Korea University, Seoul 02841, Korea)

  • Daeyoung Kang

    (The School of Electrical Engineering, Korea University, Seoul 02841, Korea)

  • Sung-Kwan Joo

    (The School of Electrical Engineering, Korea University, Seoul 02841, Korea)

Abstract

As distributed energy resources (DERs) proliferate power systems, power grids face new challenges stemming from the variability and uncertainty of DERs. To address these problems, virtual power plants (VPPs) are established to aggregate DERs and manage them as single dispatchable and reliable resources. VPPs can participate in the day-ahead (DA) market and therefore require a bidding method that maximizes profits. It is also important to minimize the variability of VPP output during intra-day (ID) operations. This paper presents mixed integer quadratic programming-based scheduling methods for both DA market bidding and ID operation of VPPs, thus serving as a complete scheme for bidding-operation scheduling. Hourly bids are determined based on VPP revenue in the DA market bidding step, and the schedule of DERs is revised in the ID operation to minimize the impact of forecasting errors and maximize the incentives, thus reducing the variability and uncertainty of VPP output. The simulation results verify the effectiveness of the proposed methods through a comparison of daily revenue.

Suggested Citation

  • Rakkyung Ko & Daeyoung Kang & Sung-Kwan Joo, 2019. "Mixed Integer Quadratic Programming Based Scheduling Methods for Day-Ahead Bidding and Intra-Day Operation of Virtual Power Plant," Energies, MDPI, vol. 12(8), pages 1-16, April.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:8:p:1410-:d:222216
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    References listed on IDEAS

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    Cited by:

    1. Rui Gao & Hongxia Guo & Ruihong Zhang & Tian Mao & Qianyao Xu & Baorong Zhou & Ping Yang, 2019. "A Two-Stage Dispatch Mechanism for Virtual Power Plant Utilizing the CVaR Theory in the Electricity Spot Market," Energies, MDPI, vol. 12(17), pages 1-18, September.
    2. Yuqing Wang & Min Zhang & Jindi Ao & Zhaozhen Wang & Houqi Dong & Ming Zeng, 2022. "Profit Allocation Strategy of Virtual Power Plant Based on Multi-Objective Optimization in Electricity Market," Sustainability, MDPI, vol. 14(10), pages 1-22, May.
    3. Rakkyung Ko & Sung-Kwan Joo, 2019. "Stochastic Mixed-Integer Programming (SMIP)-Based Distributed Energy Resource Allocation Method for Virtual Power Plants," Energies, MDPI, vol. 13(1), pages 1-10, December.
    4. Wafa Nafkha-Tayari & Seifeddine Ben Elghali & Ehsan Heydarian-Forushani & Mohamed Benbouzid, 2022. "Virtual Power Plants Optimization Issue: A Comprehensive Review on Methods, Solutions, and Prospects," Energies, MDPI, vol. 15(10), pages 1-20, May.
    5. Naval, Natalia & Yusta, Jose M., 2021. "Virtual power plant models and electricity markets - A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 149(C).

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