Bidding Strategy of Virtual Power Plant for Participating in Energy and Spinning Reserve Markets—Part II: Numerical Analysis

Abstract

This paper is to evaluate the presented model in part I for bidding strategy of virtual power plant (VPP) with centralized control in a joint market of energy and spinning reserve service. Two test VPPs are introduced and different scenarios are considered for markets prices. At first, the participation of VPP in only energy market is studied. Then, the spinning reserve market is taken into consideration and the bids of VPP in a joint market of energy and spinning reserve service is studied under different scenarios of markets prices and the results are analyzed. In all cases, the results show the effectiveness and the quality of the procedure and validate the proposed model.