DocumentCode :
502264
Title :
Short-term economics of Virtual Power Plants
Author :
Kok, Koen
Author_Institution :
ECN - The Netherlands
fYear :
2009
fDate :
8-11 June 2009
Firstpage :
1
Lastpage :
4
Abstract :
The Virtual Power Plant (VPP) has gained an increasing interest over the last few years. A VPP is a flexible representation of a portfolio of Distributed Energy Resources (DER: distributed generation, demand response and electricity storage). One of the key activities of a VPP is the delivery of (near-)real-time balancing services. In order to operate such a (near-)real-time coordination activity optimally, the VPP needs to maintain a dynamic merit-order list of all DER participating in the VPP. In order to make optimal decisions based on this list, the merit order needs to be based on the true marginal cost (or marginal benefit in case of demand response) of the individual DER units. The marginal electricity costs of most types of DER are highly dependent on local context and, hence, change over time. From analysis of the short-term bid strategies of various DER units, the existence of a bid strategy spectrum becomes clear. On one end of the spectrum, bidding strategies are based straightforwardly on true marginal cost or benefit. Further along the spectrum, optimal bidding strategies become less dependent on marginal cost levels and more on the price dynamics in the (VPP) market context. These results are relevant for VPP operations both from business and technical perspectives.
fLanguage :
English
Publisher :
iet
Conference_Titel :
Electricity Distribution - Part 1, 2009. CIRED 2009. 20th International Conference and Exhibition on
Conference_Location :
Prague, Czech Republic
ISSN :
0537-9989
Print_ISBN :
978-1-84919126-5
Type :
conf
Filename :
5255675
Link To Document :
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