An analysis of social welfare and profitability in VPP bidding strategies on Korean power market

This paper focuses on analyzing the market impact of Virtual Power Plants (VPPs) in the Power Market of Korea, with a specific emphasis on social welfare and profitability. Additionally, it evaluates future load trends and assesses business profitability, highlighting the implementation of strategic bidding strategies for VPPs. The case study provides crucial insight for developing policies to mitigate market power and improve social welfare in the participation of VPPs.