Mixed integer quadratic programming based scheduling methods for day-ahead bidding and intra-day operation of virtual power plant

Rakkyung Ko, Daeyoung Kang, Sung-Kwan Joo

Research output: Contribution to journalArticle

1 Citation (Scopus)

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.

Original languageEnglish
Article number1410
JournalEnergies
Volume12
Issue number8
DOIs
Publication statusPublished - 2019 Apr 12

Fingerprint

Bidding
Quadratic programming
Power Plant
Integer Programming
Quadratic Programming
Power plants
Scheduling
Energy resources
Resources
Energy
Maximise
Minimise
Uncertainty
Output
Incentives
Power System
Profit
Forecasting
Profitability
Schedule

Keywords

  • Energy storage system (ESS)
  • Mixed integer programming
  • Schedule revising
  • Virtual power plant (VPP)
  • VPP schedule

ASJC Scopus subject areas

  • Renewable Energy, Sustainability and the Environment
  • Energy Engineering and Power Technology
  • Energy (miscellaneous)
  • Control and Optimization
  • Electrical and Electronic Engineering

Cite this

Mixed integer quadratic programming based scheduling methods for day-ahead bidding and intra-day operation of virtual power plant. / Ko, Rakkyung; Kang, Daeyoung; Joo, Sung-Kwan.

In: Energies, Vol. 12, No. 8, 1410, 12.04.2019.

Research output: Contribution to journalArticle

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