Single-level Robust Bidding of Renewable-only Virtual Power Plant in Energy and Ancillary Service Markets for Worst-case Profit
<|reference_start|>Single-level Robust Bidding of Renewable-only Virtual Power Plant in Energy and Ancillary Service Markets for Worst-case Profit: This paper proposes a novel single-level robust mathematical approach to model the RES-only Virtual Power Plant (RVPP) bidding problem in the simultaneous Day Ahead Market (DAM) and Secondary Reserve Market (SRM). The worst-case profit of RVPP due to uncertainties related to electricity prices, Non-dispatchable Renewable Energy Sources (ND-RES) production, and flexible demand is captured. In order to find the worst-case profit in a single-level model, the relationship between price and energy uncertainties leads to some non-linear constraints, which are appropriately linearized. The simulation results show the superiority of the proposed robust model compared to those in the literature, as well as its computational efficiency.<|reference_end|>
@article{nemati2024single-level,
    title={Single-level Robust Bidding of Renewable-only Virtual Power Plant in
  Energy and Ancillary Service Markets for Worst-case Profit},
    author={Hadi Nemati, Pedro S'anchez-Mart'in, Ana Baringo, 'Alvaro Ortega},
    journal={arXiv preprint arXiv:2403.02953},
    year={2024},
    archivePrefix={arXiv},
    eprint={2403.02953},
    primaryClass={eess.SY cs.SY}
}