Research on Bidding Strategy of Virtual Power Plant Participating in Spot Market

Virtual power plants gathers different power generation resources and gives play to their respective advantages in order to gain more profits in the electricity market and guarantee the interests of internal members. This paper establishes a two-layer bidding model of virtual power plants participating in spot market. The upper level of the model is the power exchange center to determine the winning power quantity of each power manufacturer with the goal of the lowest social electricity cost; the lower level is the virtual power plant operator to optimize the bidding strategy with the goal of maximizing their own income. The example analysis shows that the participation of all kinds of power generation resources in the spot market in the form of virtual power plants can improve the overall profit, and the moderate adoption of more conservative bidding strategy can further improve the profit of virtual power plants.