Stochastic Economic Operation of Coupling Unit of Flexi-Renewable Virtual Power Plant and Electric Spring in the Smart Distribution Network

This paper outlines the operation of a Smart Distribution Network (SDN) that couples a Virtual Power Plant and Electric Springs (CVEs). In fact, CVEs participate simultaneously in energy and reactive service markets. The prime aim of the proposed scheme is to maximize the predicted profits of CVEs in the mentioned markets. The constraints in the problem formulation are the AC optimal power flow equations, flexibility limits in the network, and the operating model of CVEs. Further, the design is in a nonlinear formulation, which is followed by a linear approximation model to access a unique optimal response. Stochastic optimization is used to account for uncertainties in energy price, load, renewable power, and energy consumption of mobile storage devices. In addition, the results from implementing the design on the IEEE 69-bus SDN confirm the potential of CVEs to enhance the network’s operation and access significant profits for power sources, storage devices, and responsive load. Finally, the design achieved 100% flexibility for the SDN through proper management of CVEs, resulting in an improvement of operating indices between 15-97% compared to power flow studies. Moreover, the CVEs profit in the modeling of uncertainties reduces approximately 19.6% compared to the deterministic model of the proposed scheme under complete flexibility conditions.