Akkaş, Özge PınarÇam, Ertuğrul2025-01-212025-01-2120202148-3736https://doi.org/10.31202/ecjse.652767https://search.trdizin.gov.tr/tr/yayin/detay/465467https://hdl.handle.net/20.500.12587/22894The air pollution and global warming because of the increasing usage of fossil fuels with the rapid growth of technology are some of the major problems for many countries. To cope with these problems, distributed energy resources (DERs) including renewable sources are adding into the modern power systems as an alternative to traditional generation. However, the uncertain nature of some sources such as wind power and photovoltaic power leads to variable output and instability of the power system. Virtual Power Plant (VPP) is a convenient solution to overcome these challenges in the power system. It aggregates various DERs including renewable-based and fueled-based generation, storage systems and dispatchable loads. In this study, the optimum operating strategy of a VPP consisting of a Wind Power Plant (WPP), a Photovoltaic Power Plant (PVPP), a Conventional Power Plant (CPP) and a Pumped Hydro Storage Plant (PHSP) is determined to maximize the profit in a Day-Ahead Market (DAM). The uncertainty analysis for the intermittent renewable power generation is made by modeling the uncertain parameters (wind speed and solar radiation) with scenarios based upon historical data. Moreover, the risk of low-profit scenarios is evaluated by using Conditional Value at Risk (CVaR) as a risk measure.eninfo:eu-repo/semantics/openAccessMühendislikElektrik ve ElektronikEnerji ve YakıtlarMühendislikKimyaİstatistik ve OlasılıkArticle7244846110.31202/ecjse.652767465467