NDLI: Self-adaptive hybrid algorithm based bi-level approach for virtual power plant bidding in multiple retail markets

Content Provider	IET Digital Library
Author	Yi, Zhongkai Xu, Yinliang Sun, Hongbin
Abstract	Virtual power plant (VPP) has become a promising technique to facilitate distributed energy resources (DERs) to participate in the power markets. Considering the respective interests of the VPP agent and distribution system operator (DSO), a bi-level optimisation model for VPP bidding in multiple retail markets (including active power, reactive power and spinning reserve market) as price-maker is formulated. In the upper layer, taking into account various DERs, the VPP agent aims to develop hourly bidding prices and quantities of multiple market commodities to maximise its operation profits. In the lower layer, DSO conducts the retail market clearing to minimise the system operation cost considering the network constraints and bidding plans of the market participants. Moreover, the quadratic coupling constraints among different market commodities due to capacity limitation of distributed generators and branches are formulated explicitly in the proposed model. The hybrid simulated annealing-genetic algorithm with self-adaptive parameters is adopted to cope with the non-linearity and compute the economic bidding plans for VPP. The effectiveness of the proposed approach is verified under different scenarios through case studies, which indicate its superiority and great potential for implementation.
Starting Page	3762
Ending Page	3773
Page Count	12
ISSN	17518687
Volume Number	14
e-ISSN	17518695
Issue Number	Issue 18, Sep (2020)
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/iet-gtd/14/18
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/10.1049/iet-gtd.2019.1881
Journal	IET Generation, Transmission & Distribution
Publisher Date	2020-06-16
Access Restriction	Open
Rights Holder	© The Institution of Engineering and Technology
Subject Keyword	Active Power Adaptive Hybrid Algorithm Bi-level Approach Bi-level Optimisation Model Bidding Plans DERs Different Market Commodities Distributed Energy Resources Distributed Generator Distributed Power Generation Distribution System Operator DSO Economic Bidding Genetic Algorithm Hourly Bidding Prices Hybrid Simulated Annealing-genetic Algorithm Market Participants Multiple Market Commodities Multiple Retail Markets Operation Profits Optimisation Optimisation Technique Power Generation Economics Power Market Power System Economics Power System Managemen Power System Operation Price-maker Pricing Reactive Power Retail Market Clearing Simulated Annealing Spinning Reserve Market System Operation Cost Virtual Power Plant Bidding VPP Agent VPP Bidding
Content Type	Text
Resource Type	Article
Subject	Control and Systems Engineering Energy Engineering and Power Technology Electrical and Electronic Engineering

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4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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