Optimal Operational Strategy of Virtual Power Plant Considering the Participation in the Joint Markets of the Electricity Spot and Auxiliary Service Market

Abstract

With the acceleration of the market-oriented reform of the power system, the construction and policy support of virtual power plant (VPP) projects have increased year by year and the participation in the electricity market, grid operation, and auxiliary service market of virtual power plants has been encouraged to promote the positive role of VPP in the rational allocation of user resources, increase operating income, maintain grid stability, and improve new energy consumption. However, the coordination method for VPP to participate in different markets has not been studied deeply and effectively yet. In this context, to coordinate the electricity market with diversified demand, aiming at the maximization of comprehensive revenue in diversified market-oriented decision-making of VPPs, an optimal operational strategy of the virtual power plant to participate in the joint markets of electricity spot and auxiliary service market is innovatively proposed. The case study on a certain VPP in Liandu district, Lishui city, Zhejiang province of China verifies the effectiveness and practicability of the proposed strategy.