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Optimal Participation Scheme for Virtual Power Plants in Energy and Reserve Markets

Project Member(s): Li, L.

Funding or Partner Organisation: Starling Energy Group
Starling Energy Group
Race for 2030 Limited (Race for 2030 Limited CRC)
Race for 2030 Limited (Race for 2030 Limited CRC)

Start year: 2023

Summary: The possibility of integrating a number of small-scale renewable energy resources in houses, such as rooftop solar panels, into a larger aggregated resource has given rise to the concept of virtual power plant (VPP). A VPP can give assistance to the National Electricity Market (NEM) and the Wholesale Energy Market (WEM) by participating in markets to maximize their own profit as well as by offering ancillary services to the grid. Because of the interaction between VPPs and energy markets, attention to the secure operation of this emerging technology is vital. This research consequently aims to devise efficient strategies for VPPs to participate in energy markets considering different market structures, load and generation profiles behind-the-meter of customers, uncertainty, demand response and artificial intelligence techniques.

FOR Codes: Electrical energy transmission, networks and systems, Energy systems and analysis