Robust Security Constrained Energy and Regulation Service Bidding Strategy for a Virtual Power Plant

In addition to renewable energy sources and market prices uncertainties, the regulation commands issued by the superior market operator are unpredictable factors within the virtual power plant (VPP) bidding range. To avoid branch power flow outage and voltage violation under uncertain regulation commands, a tri-level robust optimization-based day-ahead energy and regulation service bidding strategy for a generalized VPP, considering various distributed energy resources is proposed, in which the VPP bidding strategy, worst scenario estimation approach and regulation service scheduling method are formulated at three optimization layers, respectively. Then, the proposed tri-level model is transformed into an equivalent, single-level, mixed integer, second-order cone programming problem with rigid proof. Numerical simulations illustrate the effectiveness and superiority of the proposed approach by comparison with other prevailing methods in recent literature.