IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v18y2025i17p4586-d1737203.html
   My bibliography  Save this article

A Two-Stage Cooperative Scheduling Model for Virtual Power Plants Accounting for Price Stochastic Perturbations

Author

Listed:
  • Yan Lu

    (Economic and Technical Research Institute of State Grid Jibei Electric Power Co., Beijing 100054, China)

  • Jian Zhang

    (State Grid Jibei Electric Power Co., Beijing 100054, China)

  • Bo Lu

    (Beijing Bowang Huake Technology Co., Beijing 100054, China)

  • Zhongfu Tan

    (School of Economics and Management, North China Electric Power University, Beijing 102206, China)

Abstract

With the increasing integration of renewable energy, virtual power plants (VPPs) have emerged as key market participants by aggregating distributed energy resources. However, their involvement in electricity markets is increasingly challenged by two major uncertainties: price volatility and the intermittency of renewable generation. This study presents the first application of Information Gap Decision Theory (IGDT) within a two-stage cooperative scheduling framework for VPPs. A novel bidding strategy model is proposed, incorporating both robust and opportunistic optimization methods to explicitly account for decision-making behaviors under different risk preferences. In the day-ahead stage, a risk-responsive bidding mechanism is designed to address price uncertainty. In the real-time stage, the coordinated dispatch of micro gas turbines, energy storage systems, and flexible loads is employed to minimize adjustment costs arising from wind and solar forecast deviations. A case study using spot market data from Shandong Province, China, shows that the proposed model not only achieves an effective balance between risk and return but also significantly improves renewable energy integration and system flexibility. This work introduces a new modeling paradigm and a practical optimization tool for precision trading under uncertainty, offering both theoretical and methodological contributions to the coordinated operation of flexible resources and the design of electricity market mechanisms.

Suggested Citation

  • Yan Lu & Jian Zhang & Bo Lu & Zhongfu Tan, 2025. "A Two-Stage Cooperative Scheduling Model for Virtual Power Plants Accounting for Price Stochastic Perturbations," Energies, MDPI, vol. 18(17), pages 1-23, August.
  • Handle: RePEc:gam:jeners:v:18:y:2025:i:17:p:4586-:d:1737203
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/18/17/4586/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/1996-1073/18/17/4586/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Li, Qiang & Zhou, Yongcheng & Wei, Fanchao & Li, Shuangxiu & Wang, Zhonghao & Li, Jiajia & Zhou, Guowen & Liu, Jinfu & Yan, Peigang & Yu, Daren, 2024. "Multi-time scale scheduling for virtual power plants: Integrating the flexibility of power generation and multi-user loads while considering the capacity degradation of energy storage systems," Applied Energy, Elsevier, vol. 362(C).
    2. Alam, Khandoker Shahjahan & Kaif, A.M.A. Daiyan & Das, Sajal K., 2024. "A blockchain-based optimal peer-to-peer energy trading framework for decentralized energy management with in a virtual power plant: Lab scale studies and large scale proposal," Applied Energy, Elsevier, vol. 365(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Caixin Yan & Zhifeng Qiu, 2025. "Review of Power Market Optimization Strategies Based on Industrial Load Flexibility," Energies, MDPI, vol. 18(7), pages 1-41, March.
    2. Anjie Lu & Jianguo Zhou & Minglei Qin & Danchen Liu, 2024. "Considering Carbon–Hydrogen Coupled Integrated Energy Systems: A Pathway to Sustainable Energy Transition in China Under Uncertainty," Sustainability, MDPI, vol. 16(21), pages 1-32, October.
    3. Wei Huang & Chao Zheng & Xuehao He & Xiaojie Liu & Suwei Zhai & Guobiao Lin & Shi Su & Chenyang Zhao & Qian Ai, 2025. "A Trusted Sharing Strategy for Electricity in Multi-Virtual Power Plants Based on Dual-Chain Blockchain," Energies, MDPI, vol. 18(11), pages 1-22, May.
    4. Chong, Daotong & Tian, Zeyu & Yan, Hui & Sha, Zhaoyang & Wang, Zhu & Zhao, Quanbin, 2025. "Coordination optimization within large-scale virtual power plant for frequency stability improvement under internal power and external frequency fluctuations," Applied Energy, Elsevier, vol. 384(C).
    5. Shuo Yin & Yang He & Zhiheng Li & Senmao Li & Peng Wang & Ziyi Chen, 2024. "A Novel Multi-Timescale Optimal Scheduling Model for a Power–Gas Mutual Transformation Virtual Power Plant with Power-to-Gas Conversion and Comprehensive Demand Response," Energies, MDPI, vol. 17(15), pages 1-19, August.
    6. Carlos Barrera-Singaña & María Paz Comech & Hugo Arcos, 2025. "A Comprehensive Review on the Integration of Renewable Energy Through Advanced Planning and Optimization Techniques," Energies, MDPI, vol. 18(11), pages 1-23, June.
    7. Lu, Quan & Zeng, Haozheng & Yin, Linfei, 2025. "Dynamic distributed multi-objective mantis search algorithm based on Transformer hybrid strategy for novel power system dispatch," Energy, Elsevier, vol. 324(C).
    8. Liu, Xinrui & Li, Ming & Wang, Rui & Feng, Junbo & Dong, Chaoyu & Sun, Qiuye, 2024. "Low-carbon operation of multi-virtual power plants with hydrogen doping and load aggregator based on bilateral cooperative game," Energy, Elsevier, vol. 309(C).
    9. Li, Yixin & Li, Zhengshuo, 2025. "A novel risk-averse multi-energy Management for Effective Offering Strategy of integrated energy production units in a real-time electricity market," Applied Energy, Elsevier, vol. 377(PA).
    10. Xinxing Liu & Ciwei Gao, 2025. "Review and Prospects of Artificial Intelligence Technology in Virtual Power Plants," Energies, MDPI, vol. 18(13), pages 1-26, June.
    11. Lefeng Cheng & Pengrong Huang & Mengya Zhang & Kun Wang & Kuozhen Zhang & Tao Zou & Wentian Lu, 2025. "Optimizing Virtual Power Plants Cooperation via Evolutionary Game Theory: The Role of Reward–Punishment Mechanisms," Mathematics, MDPI, vol. 13(15), pages 1-86, July.
    12. Yan, Jie & Tan, Dingchang & Yan, Yamin & Zhang, Haoran & Han, Shuang & Liu, Yongqian, 2025. "Techno-economic feasible region of electrochemical energy storage participating in the day-ahead electricity market trading," Energy, Elsevier, vol. 314(C).
    13. Zhe Han & Zehua Li & Wenbo Wang & Wei Liu & Qiang Ma & Sidong Sun & Haiyang Liu & Qiang Zhang & Yue Cao, 2024. "Multi-Time Optimization Scheduling Strategy for Integrated Energy Systems Considering Multiple Controllable Loads and Carbon Capture Plants," Energies, MDPI, vol. 17(23), pages 1-18, November.
    14. Fei Guo & Hujun Li & Fangzhao Deng, 2025. "Evaluating the Power System Operational Flexibility with Explicit Quantitive Metrics," Energies, MDPI, vol. 18(12), pages 1-17, June.
    15. Zhang, Yi & Meng, Yan & Fan, Shuai & Xiao, Jucheng & Li, Li & He, Guangyu, 2025. "Multi-time scale customer directrix load-based demand response under renewable energy and customer uncertainties," Applied Energy, Elsevier, vol. 383(C).
    16. Lefeng Cheng & Xin Wei & Manling Li & Can Tan & Meng Yin & Teng Shen & Tao Zou, 2024. "Integrating Evolutionary Game-Theoretical Methods and Deep Reinforcement Learning for Adaptive Strategy Optimization in User-Side Electricity Markets: A Comprehensive Review," Mathematics, MDPI, vol. 12(20), pages 1-56, October.
    17. Hu, Likun & Cao, Yi & Yin, Linfei, 2024. "Long-term price guidance mechanism for integrated energy systems based on gated recurrent unit - vision transformer prediction and fractional-order stochastic dynamic calculus control," Energy, Elsevier, vol. 312(C).
    18. Weijie Wu & Yixin Li & Shu Wang & Zheng Wang & Shucan Zhou & Yining Zhang & Minjia Zheng, 2024. "Coordinated Planning for Multiarea Wind-Solar-Energy Storage Systems That Considers Multiple Uncertainties," Energies, MDPI, vol. 17(21), pages 1-24, October.
    19. Qian, Cheng & He, Ning & Cheng, Zihao & Li, Ruoxia & Yang, Liu, 2024. "Double-layer optimal scheduling method for solar photovoltaic thermal system based on event-triggered MPC considering battery performance degradation," Energy, Elsevier, vol. 304(C).
    20. Li, Junhui & Yu, Zhenbo & Mu, Gang & Li, Baoju & Zhou, Jiaxu & Yan, Gangui & Zhu, Xingxu & Li, Cuiping, 2024. "An assessment methodology for the flexibility capacity of new power system based on two-stage robust optimization," Applied Energy, Elsevier, vol. 376(PB).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:18:y:2025:i:17:p:4586-:d:1737203. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.