A Market-Based Virtual Power Plant

Shi You, Chresten Træholt, Bjarne Poulsen

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Abstract

The fast growing penetration of Distributed Energy Resources (DER) and the continuing trend towards a more liberalized electricity market requires more efficient energy management strategies to handle both emerging technical and economic issues. In this paper, a market-based Virtual Power Plant (MBVPP) model is proposed which provides individual DER units the accesses to current electricity markets. General bidding scenario and price signal scenario as two optional operation scenarios are operated by one MBVPP. In the end, a use case of a MBVPP with micro Combined Heat and Power (μCHP) systems demonstrates the potential benefits and operation scenarios of the MBVPP model.
Original languageEnglish
Title of host publicationInternational Conference on Clean Electrical Power
PublisherIEEE
Publication date2009
Pages460-465
ISBN (Print)978-1-4244-2543-3
DOIs
Publication statusPublished - 2009
Event2nd International Conference on Clean Electrical Power: Renewable Energy Resources Impact - Capri, Italy
Duration: 9 Jun 200911 Jun 2009
Conference number: 2

Conference

Conference2nd International Conference on Clean Electrical Power
Number2
CountryItaly
CityCapri
Period09/06/200911/06/2009

Bibliographical note

Copyright: 2009 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE

Keywords

  • Electricity market
  • Distributed Energy Resources
  • market-based Virtual Power Plant

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