Mechanism design for virtual power plants to participate in electricity market transactions

Abstract This paper firstly outlines the business mechanism of virtual power plant trading, and then specifically introduces the typical business of virtual power plant participating in pre-trading, trading, and post-trading. Typical pre-trading business includes aggregation of resources, third-party evaluation, technology access, market access, demand release, etc. A typical trading business includes transaction declaration, and transaction clearing, and a typical post-trading business includes transaction execution, implementation effect determination, transaction settlement, etc. The model design is provided for virtual power plants to participate in power market transactions.