Enoch Oladimeji, Oluwaseun Ortega Manjavacas, Álvaro Sigrist, Lukas Sánchez Martín, Pedro Lobato Miguélez, Enrique Rouco Rodríguez, Luis 2024-03-04T15:31:38Z 2024-03-04T15:31:38Z 2022-07-17 http://hdl.handle.net/11531/87551 Capítulos en libros In this paper, an approach to evaluate the benefits of demand flexibility for Virtual Power Plants (VPPs) is presented. The flexible demands chosen in this study are part of a renewable energy source-based VPP that participates in Day-Ahead Market (DAM) and Intra-Day Market (IDM) and has dispatchable and non-dispatchable assets. A demand model with bi-level flexibility is proposed: the first level is associated with DAM, whereas the second level is related to IDM sessions. Simulations are carried out considering a 12-node network to ascertain the eventual impacts of modeling demand flexibility on VPP operation. The market structure considered in the case study resembles the different trading floors in the Spanish electricity market. Results obtained show that the proposed demand flexibility scheme increases the overall profit of the VPP, as well as the revenues of the demand owners without disrupting the consumer’s comfort. In this paper, an approach to evaluate the benefits of demand flexibility for Virtual Power Plants (VPPs) is presented. The flexible demands chosen in this study are part of a renewable energy source-based VPP that participates in Day-Ahead Market (DAM) and Intra-Day Market (IDM) and has dispatchable and non-dispatchable assets. A demand model with bi-level flexibility is proposed: the first level is associated with DAM, whereas the second level is related to IDM sessions. Simulations are carried out considering a 12-node network to ascertain the eventual impacts of modeling demand flexibility on VPP operation. The market structure considered in the case study resembles the different trading floors in the Spanish electricity market. Results obtained show that the proposed demand flexibility scheme increases the overall profit of the VPP, as well as the revenues of the demand owners without disrupting the consumer’s comfort. application/octet-stream en-GB Institute of Electrical and Electronics Engineers Power and Energy Society (Denver, Estados Unidos de América) Libro: IEEE Power & Energy Society General Meeting - IEEE PES GM 2022, Página inicial: 1-5, Página final: Instituto de Investigación Tecnológica (IIT) Modeling demand flexibility of RES-based virtual power plants info:eu-repo/semantics/bookPart info:eu-repo/semantics/publishedVersion info:eu-repo/semantics/openAccess Day Ahead Market, Flexible Load, Intra-Day Market, Renewable Energy Sources, Virtual Power Plant Day Ahead Market, Flexible Load, Intra-Day Market, Renewable Energy Sources, Virtual Power Plant