Research on Trading Optimization Model of Virtual Power Plant in Medium- and Long-Term Market

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.

Multi-time scale trading profit model of pumped storage power plant for electricity market

“…Firstly, the monthly contract of PSPP is decomposed to each day, and then the 24-h decomposition is adopted day ahead, and the contracted power corresponding to the output in the whole optimization cycle can be provided to the trading center as the result of contract decomposition. Conventional medium-and long-term decomposition curves include the following: Daily average decomposition, Peak-period decomposition, Normal-period decomposition, Valley-period decomposition, and Peak-valley-normal period decomposition (Wu et al, 2022). The pumped storage plant in the example of this paper adopts Peak-valley-normal period decomposition The Optimal operation of PSPP that both participate in electric energy and ancillary services spot market in scenario 1.…”

Optimal scheduling of electricity-hydrogen coupling virtual power plant considering hydrogen load response

“…It can not only be used as a controllable power source to intensify the power supply capacity and provide peaking services for the power grid (Li et al, 2023), but also as a controllable load to boost the consumption of power, cooperate with the system to realize valley filling, moderate the output and demand of the system, and ensure the power system stability. In addition to protecting the operation of the power system to earn compensation benefits, VPP can also engage in the power market at all levels such as capacity and electricity as an independent subject, and obtain economic benefits through market transactions (Wu et al, 2022). Tan et al (2023) added operation constraints considering demand response to VPP operation constraints, and constructed a VPP cost model considering the influence of uncertainty, which effectively reduces the charging cost of users using VPP to participate in reverse power supply.…”