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Optimal Bidding Strategy Assesment of Virtual Power Plant in Electricity Market Considering Demand Response and Uncertainties
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Mahmoud Akbari   , Mohamad Tabrizian * , Hamidreza Shahmirzad |
| Yadegar-e-Imam Khomeini(Rah) Shahre-Rey Branch, Islamic Azad University, Tehran, Iran |
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Abstract: (67 Views) |
One of the achievements of the restructuring of the electricity industry is the creation of a competitive environment in the electricity generation sector, in which a set of small-scale generation units with loads and a covered network, which managed by a specific institution and is called a virtual power plant, can Have an active presence in the wholesale market of energy and rotating storage. This study presents a new framework for planning the optimal bidding strategy for the participation of virtual power plants in the energy and reserve markets, in which wholesale electricity prices, retail market, required storage, and period are the main parameters. A genetic algorithm is used to solve the resulting optimization problem. Uncertainties governing wholesale prices and forecasting consumption needs in the area covered by the virtual power plant are considered. The logarithmic and normal probability distribution functions were used, respectively. The method of Monte Carlo simulation is used to considering uncertain parameters. The simulation results of this paper show that the proposed method is a powerful and appropriate tool to develop an optimal strategy for virtual power plant bidding in the electricity market, taking into account uncertainties and its proper interaction with consumers with consideration of demand response. |
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| Keywords: Electricity Market, Bidding, Virtual Power Plant, Demand Response, Uncertainty |
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Full-Text [PDF 1298 kb]
(63 Downloads)
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Type of Study: Research |
Subject:
Special
Received: 2023/07/16 | Accepted: 2023/10/22 | Published: 2023/12/1
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