Volume 4, Issue 1, March 2019, Page: 32-43
Decision-making Model of Virtual Power Plant for Participating in Spot Market Transaction Based on Hybrid Stochastic and Robust Approach
Dong Jun, School of Economics and Management, North China Electric Power University, Beijing, China
Nie Linpeng, School of Economics and Management, North China Electric Power University, Beijing, China
Pa Lidan, School of Economics and Management, North China Electric Power University, Beijing, China
Received: Mar. 23, 2019;       Accepted: Apr. 26, 2019;       Published: May 30, 2019
DOI: 10.11648/j.ajere.20190401.14      View  697      Downloads  124
Abstract
China is vigorously promoting the reform of the electricity spot market after the notice on the development of pilot projects for the spot electricity market was issued in 2017. At the same time, china is upgrading and renovating its energy structure, in the context of structural reform on the energy supply side, the decentralized form of clean energy utilization will develop rapidly. With the continuous improvement of the trading mechanism in spot market, it has become an inevitable trend that many distributed power resources will be involved in electricity market to participate in market transaction. Therefore, in order to promote distributed energy to participate in spot market, virtual power plant technique is paid increasing attentions. Combining the current hot issue, this paper constructs a decision-making model of virtual power plant for participating in spot market transaction based on hybrid stochastic and robust method, which can provide a quantitative decision analysis tool for virtual power plant operators to participate in spot market transactions. The main contribution of this paper are as follows:1) we proposed a transaction decision model that based on hybrid stochastic optimization and robust optimization methods and example simulation was given to illustrate the effectiveness of the model; 2) this paper focused on the electricity market in china.
Keywords
Stochastic Optimization, Robust Optimization, Virtual Power Plant, Transaction Decision-making Model
To cite this article
Dong Jun, Nie Linpeng, Pa Lidan, Decision-making Model of Virtual Power Plant for Participating in Spot Market Transaction Based on Hybrid Stochastic and Robust Approach, American Journal of Environmental and Resource Economics. Vol. 4, No. 1, 2019, pp. 32-43. doi: 10.11648/j.ajere.20190401.14
Copyright
Copyright © 2019 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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