A Multiple Market Trading Mechanism for Virtual Power Plants Participating in Electricity Energy-Renewable Energy Certificate-Carbon Emission Right Markets

This paper introduces a novel trading mechanism that enables virtual power plants (VPPs) to simultaneously engage in electricity, renewable energy certificate (REC), and carbon emission right (CER) markets, taking into account the differences in regulation time scales and trading time granularity. We present a multi-layer trading model with rolling window approach to show the model structure. By incorporating parametric programming for the problem-solving process, this approach captures the sensitivity of daily dispatch decisions to REC and CER market parameters, bringing up an exchange method of parameter information between the model's layers. The dispatching correction process can help reduce the negative impact of uncertainties caused by the parameter sensitivity differences in the electricity trading layer. Case studies show that the resulting framework significantly bolsters the VPP's profit maximisation and risk mitigation capabilities.