Bidding Strategy for VPP Incorporating Price Market and Solar Generation Uncertainties using Information Gap Decision Theory

This paper considers a virtual power plant (VPP) that seeks to maximize profit through participation in the day-ahead market and included an information gap decision theory (IGDT) to model price market and renewable generation uncertainties. The IGDT is a non-probabilistic technique that model the uncertainties considering the risk aversion and the opportunity to obtain higher profits under several uncertainties. The proposed method is implemented in a case study in which the contemplated uncertainties are analyzed to determine the most influencing on the expected benefits of the VPP.