TY  - EJOU
AU  - Zhao, Tianhui 
AU  - Zhao, Jingbo 
AU  - Li, Peishuai 
AU  - Pan, Hongjin 
AU  - Chen, Zhe 
AU  - Cen, Bingcheng 

TI  - Coordinated Market Clearing and Operation for Virtual Power Plants with Multiple Electricity Commodities
T2  - Energy Engineering

PY  - 
VL  - 
IS  - 
SN  - 1546-0118

AB  - Virtual power plants (VPPs) serve as an effective means to aggregate and manage large-scale distributed energy resources (DERs). They can supply multiple electricity commodities—including electric energy, reserve capacity, and carbon allowances—to power systems. This paper proposes a coordinated market clearing and operation (CMCO) method for VPPs involved in trading multiple electricity commodities. First, we establish a bi-level CMCO framework that integrates the energy, reserve, and carbon markets. At the upper level, we build a distribution system decision model designed to minimize the total system costs, which cover wholesale market transactions and trades between VPPs involving various commodities. At the lower level, we construct a VPP operation model to optimize DER operation strategies and multi-commodity trading plans. Transactions between different VPPs follow a peer-to-peer (P2P) structure. This bi-level framework enables coordinated optimization of multi-commodity trading and operational decision-making. To efficiently solve the bi-level model with binary variables while protecting VPP privacy, we develop a distributed algorithm combining the dichotomy method and the alternating direction method of multipliers (ADMM). Numerical simulations on a test system with three VPPs verify that the proposed method reduces operational costs by facilitating multi-commodity trading. The results also show that this approach improves DER utilization and supports the low-carbon transition of power systems.
KW  - Virtual power plant (VPP); electricity market; coordinated trading and operation; multiple electricity commodities

DO  - 10.32604/ee.2026.076964