Customized Rebate Pricing Mechanism for Virtual Power Plants Using a Hierarchical Game and Reinforcement Learning Approach

Chen, Wen; Qiu, Jing; Zhao, Junhua; Chai, Qingmian; Dong, Zhaoyang

doi:10.1109/tsg.2022.3185138

Cited by 21 publications

(3 citation statements)

References 43 publications

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“…In order to contrast and analyze the enhancing effect on the VPPs' yield after the introduction of the flexible premium allocation mechanism, the methods for calculating the perunit electricity benefits in Scenario 1 and Scenario 2 are provided separately: For Scenario 1, the per-unit electricity revenue during the time period with the highest priority for the VPPs is calculated based on the bid revenue and the declared total electricity quantity in that period, as expressed in (10). For Scenario 2, the per-unit electricity revenue is calculated by summing the ratio of settlement prices and allocation prices to the declared electricity quantity.…”

Section: B Design Of Flexibility Premium Allocation Mechanism For Vppsmentioning

confidence: 99%

“…In terms of the pricing system, Wen Chen et al proposed a frequency control ancillary service and critical peak rebate (FCAS-CPR) strategy based on cumulative prospect theory (CPT) for a VPP in coupled FCAS and DR markets. This method can efficiently reduce the peak loads to mitigate impacts of ETs on power systems, while achieving a win-win outcome in maximizing the utilities of both the retailer and VPP consumers [9], [10]. Researchers established a master-slave game model of multiple VPPs and control centers, and used genetic algorithm (GA) to find the equilibrium solution.…”

Section: Introductionmentioning

confidence: 99%

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Spot Market Clearing Model and Flexibility Premium Assessment Method Considering Flexible Regulation of Virtual Power Plants

Wang,

Li,

et al. 2024

IEEE Access

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As an emerging market participant, Virtual Power Plants (VPPs) are gradually gaining access in multiple market trading varieties. They aggregate flexible distributed resources to respond to system dispatch instructions and execute transaction results, expanding the adjustable resources for the new power system. Currently, VPPs primarily participate in the ancillary services market, with secondary involvement in the energy market. With the penetration of a high proportion of new energy sources, the transition of VPPs to the spot market becomes a crucial business expansion direction. This study explores a spot market clearing model adapted for VPPs participation. It allows VPPs to reflect their flexible regulation characteristics by introducing a flexible declaration method, aiming to enhance the matching rate between supply and demand in the electricity market. Through a comparative analysis of clearing results based on different transaction models, an assessment method for the flexibility premium of VPPs is established. This transition in pricing system allows VPPs to shift from energy pricing to a "energy + flexibility" pricing model, thereby improving the competitiveness and value recognition of flexible resource VPPs in the electricity market.INDEX TERMS virtual power plants, spot market, clearing model, flexibility premium.

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Section: B Design Of Flexibility Premium Allocation Mechanism For Vppsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Spot Market Clearing Model and Flexibility Premium Assessment Method Considering Flexible Regulation of Virtual Power Plants

Wang,

Li,

et al. 2024

IEEE Access

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“…In particular, as mentioned in [297], frequency regulation and voltage control techniques based on RL could serve as viable alternatives to modelbased methods in settings where the models of the system are unavailable or too complex. In the context of VPPs, RL methods have been mostly focused on economic dispatch [298], demand response [299], and pricing problems [300]. Novel RL techniques for frequency regulation in VPPs have been recently studied in [301] and [302].…”

Section: Ai and Soft Computing-based Control Of Vppsmentioning

confidence: 99%

Control Systems for Low-Inertia Power Grids: A Survey on Virtual Power Plants

et al. 2023

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Virtual Power Plants (VPPs) have emerged as a modern real-time energy management architecture that seeks to synergistically coordinate an aggregation of renewable and non-renewable generation systems to overcome some of the fundamental limitations of traditional power grids dominated by synchronous machines. In this survey paper, we review the different existing and emerging feedback control mechanisms and architectures used for the real-time operation of VPPs. In contrast to other works that have mostly focused on the optimal dispatch and economical aspects of VPPs in the hourly and daily time scales, in this paper we focus on the dynamic nature of the system during the faster sub-hourly time scales. The virtual (i.e., software-based) component of a VPP, combined with the power plant (i.e., physics-based) components of the power grid, make VPPs prominent examples of cyber-physical systems, where both continuous-time and discrete-time dynamics play critical roles in the stability and transient properties of the system. We elaborate on this interpretation of VPPs as hybrid dynamical systems, and we further discuss open research problems and potential research directions in feedback control systems that could contribute to the safe development and deployment of autonomous VPPs.INDEX TERMS Smart grids, renewable energy, virtual power plant, feedback control, multi-agent hybrid dynamical systems.

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