In this paper the optimal bidding strategy of virtual power plant (VPP) in a joint market of energy and spinning reserve service, coupled with reactive power market is investigated. The proposed bidding strategy model is non-equilibrium based on security-constrained pri More
In this paper the optimal bidding strategy of virtual power plant (VPP) in a joint market of energy and spinning reserve service, coupled with reactive power market is investigated. The proposed bidding strategy model is non-equilibrium based on security-constrained price-based unit commitment (SCPBUC), which considers the VPP supply-demand balancing and security constraints. The model is a non-convex mixed-integer nonlinear optimization problem with inter-temporal constraints. It is solved by mixed-integer nonlinear programming (MINLP), and the solution is a single optimal bidding profile for each of the energy, spinning reserve, and reactive power markets.
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