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Single-level Robust Bidding of Renewable-only Virtual Power Plant in Energy and Ancillary Service Markets for Worst-case Profit (2403.02953v1)

Published 5 Mar 2024 in eess.SY and cs.SY

Abstract: This paper proposes a novel single-level robust mathematical approach to model the RES-only Virtual Power Plant (RVPP) bidding problem in the simultaneous Day Ahead Market (DAM) and Secondary Reserve Market (SRM). The worst-case profit of RVPP due to uncertainties related to electricity prices, Non-dispatchable Renewable Energy Sources (ND-RES) production, and flexible demand is captured. In order to find the worst-case profit in a single-level model, the relationship between price and energy uncertainties leads to some non-linear constraints, which are appropriately linearized. The simulation results show the superiority of the proposed robust model compared to those in the literature, as well as its computational efficiency.

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