Optimizing RVPP Bidding Strategies in Energy and Reserve Markets Under Different Regulations

Abstract

The concept of the Renewable-only Virtual Power Plant (RVPP) provides a solution for aggregating multiple dispatchable and non-dispatchable renewable sources for market participation while capturing the uncertainties of stochastic units. However, technical and regulatory barriers associated with portfolio bidding in markets often prevent or limit their full integration and participation. This paper investigates the effects of different aggregation strategies imposed by market regulations on the profitability of RVPP. Simulation results compare different energy and reserve markets mechanisms, taking into account uncertainties related to non-dispatchable RVPP units and electricity prices.