Data‐driven virtual power plant bidding package model and its application to virtual VCG auction‐based real‐time power market. Issue 5 (2nd June 2020)

• Record Type: Journal Article
• Authors: Xinhe, Chen; Wei, Pei; Wei, Deng; Hao, Xiao
• Is Part Of: IET smart grid. Volume 3:Issue 5(2020)
• Page Start: 614
• Page End: 625
• Publication Date: 2020-06-02
• Subjects: power markets -- electronic commerce -- power generation economics -- virtualisation -- power engineering computing -- real‐time systems; cost characteristics -- multiple virtual power plants -- power system stability -- real‐time dispatching costs -- virtual VCG auction -- real‐time power market -- data‐driven virtual power plant -- real‐time packing method -- real‐time power market mechanism -- bidding package model -- IEEE‐30 bus test system -- integrated virtual Vickrey–Clarke–Groves auction; Smart power grids -- Periodicals; Computer science -- Periodicals; Energy industries -- Periodicals; Broadcasting -- Periodicals; 333.79110285
• DOI: 10.1049/iet-stg.2020.0038
• Languages: English
• ISSNs: 2515-2947

Abstract

Abstract : Energy storage and virtual power plant technologies have been developed and become important technical means to enhance power system stability and reduce real‐time dispatching costs. In this study, the dispatching capability and dispatching cost characteristics of the virtual power plants are analysed firstly in detail, as well as the dispatching difficulties under the traditional market modes. Hence, virtual power plant real‐time bidding package model and virtual auction‐based real‐time power market mechanism are proposed. Data‐driven virtual power plant real‐time packing method and bidding package model integrated virtual Vickrey–Clarke–Groves auction model are put forward. Finally, the feasibility and validity of the proposed mechanism and method are verified by case studies and result in analyses of the IEEE‐30 bus test system with multiple virtual power plants, providing a scientific foundation and a practical solution to the real‐time power market.