Stochastic bidding strategy for virtual power plants with mobile energy storages

A system for allocating electrical energy using a mobile electrical energy storage (MEES) system, a renewable generator, and a local load demand at locations of a virtual power plant (VPP) in a resource allocation system managing contributions to day-ahead and real-time power balance and real-time reliability reserves of a power grid by the VPP, the system comprising:

• a transceiver configured to receive information including past energy and reserve market data, past renewable generation and consumption data related to the VPP, and upcoming weather data;
• a memory configured to store executable instructions;
• and
• a processor configured to execute the instructions to:
• generate event data corresponding to a set of uncertain events for risk management of the VPP, based on the received information, wherein the event data comprises a set of uncertain parameters related to i.) energy and reserve rates and ii.) amounts of renewable production and load consumption in the VPP;
• determine an optimal delivery and operation schedule for the MEES system for the upcoming time period, based on maximization of a weighted sum of expected rewards gained from energy and reserve contributions by the VPP and a plurality of conditional values at risk defined by the event data, wherein the optimal operation and delivery schedule includes allocation amounts of the electrical energy for the MEES system and contributions to energy balances and reserves of the power grid by the VPP for each time interval of the upcoming time period;
• control delivery and operation of the MEES system between the locations of the VPP, according to (a) a first distribution of the allocation amounts of the electrical energy to the locations of the VPP for discharging for each time interval of the upcoming time period, and (b) a second distribution of the allocation amounts of the electrical energy for the MEES system at the locations of the VPP for charging the MEES system for each time interval of the upcoming time period;
• and
• charge or discharge the MEES system in accordance with the optimal delivery and operation schedule of the MEES system.