Analysis of Virtual Power Station Proposed Strategy in Storage and Energy Markets with Consideration of Load Response and Uncertainty in Market Price

In this paper, a new framework for planning strategies to participate in virtual power plants and energy storage markets is presented. By definition, a virtual power plant is a series of small-scale generation units along with the covered load and network that is managed by a specific institution. DG technologies that are considered in this paper are combined heat and power production and gas production and electrochemical storage units. Energy prices in the wholesale and retail market, required storage and period are such specified parameters. The parameter that included uncertainties are: the wholesale price of energy and the forecasted demand. For mathematical modeling of the participation planning problem, non-equilibrium model is used. In order to solve the optimization problem Genetic Algorithm is use.Uncertainties prevailing wholesale price and demand forecasts in the area covered by the virtual power plant is considered and log-normal and normal probability distribution function were used to model them respectively, and for implementation of the uncertainties parameters Monte-Carlo simulation are used. Simulation results in this paper show that the presented framework provides a powerful and useful tool for providing strategy of bid of virtual plant production to market, and its interaction with the consumer market with capability of interrupting the load.