ORBIT-RVPP is a tool for optimizing the operation and bidding strategy of renewable-based Virtual Power Plants (RVPPs) under different sources of uncertainty, including electricity prices, stochastic renewable generation, and demand consumption across different electricity markets, using MILP-based flexible robust optimization approaches. The model considers RVPP participation in the sequential Iberian electricity markets up to mid-2024, including the Day-Ahead Market (DAM), the Secondary Reserve Market (SRM), and the Intra-Day Markets (IDMs).
Multi-market bidding & co-optimization
Co-optimizes RVPP schedules and bids across the Day-Ahead Market, Secondary Reserve Market, and Intra-Day Markets of Iberian sequential markets.
MILP-based flexible robust optimization under uncertainty
Uses mixed-integer linear programming robust formulations to handle uncertain prices, renewable generation, and demand while keeping the problem computationally tractable.
Three robust decision paradigms
Supports Energy Robustness, Profit Robustness, and Regret-based Robustness, enabling different risk/robustness preferences depending on the study objective.
Configurable market-session workflows
Lets the user solve DAM+SRM, SRM+IDM#1, or any IDM#k session by a single parameter switch.
Highly modular RVPP asset portfolio modeling
Supports different combinations and sizes of assets (wind, PV, hydro, biomass, solar thermal, flexible demand, thermal storage, electrical storage), allowing realistic RVPP compositions.
Integrated coupling between market sessions
Automatically passes key outcomes from one session to the next, reflecting how earlier commitments constrain later trading.
Excel-driven data and results interface
Users edit only input data in Excel and run the model in GAMS; outputs are written back to for easy review.
[1] Nemati, H., Sánchez, P., Ortega, A., Sigrist, L., Rouco, L., Integration of concentrated solar power plants in renewable-only VPP with electrical and thermal demands: A two-stage robust bidding approach. Journal of Energy Storage. Vol. 141, no. Part C, pp. 119265-1 - 119265-24, January 2026. [Online: November 2025] JCR-JIF JCR-JIF: 9,800 Q1 (2024) - SJR: 1,760 Q1 (2024)
[2] Nemati, H., Ortega, A., Sánchez, P., Two-stage robust optimization strategy for VPP participation in the energy and reserve markets considering intertemporal carbon trading. International Journal of Electrical Power & Energy Systems. Vol. 172, pp. 111093-1 - 111093-24, November 2025. [Online: September 2025] JCR-JIF JCR-JIF: 5,000 Q1 (2024) - SJR: 1,714 Q1 (2024)
[3] Nemati, H., Sánchez, P., Ortega, A., Sigrist, L., Lobato, E., Rouco, L., Flexible robust optimal bidding of renewable virtual power plants in sequential markets under asymmetric uncertainties. Sustainable Energy, Grids and Networks. Vol. 43, pp. 101801-1 - 101801-22, September 2025. [Online: July 2025] JCR-JIF JCR-JIF: 5,600 Q1 (2024) - SJR: 1,378 Q1 (2024)
[4] Nemati, H., Sánchez, P., Baringo, A., Ortega, A., Single-level flexible robust optimal bidding of Renewable-Only Virtual Power Plant in energy and secondary reserve markets. Energy. Vol. 328, pp. 136421-1 - 136421-18, August 2025. JCR-JIF JCR-JIF: 9,400 Q1 (2024) - SJR: 2,211 Q1 (2024)
[5] Nemati, H., Sánchez, P., Sigrist, L., Rouco, L., Ortega, A., Flexible robust optimization for Renewable-only VPP bidding on electricity markets with economic risk analysis. International Journal of Electrical Power & Energy Systems. Vol. 167, pp. 110594-1 - 110594-17, June 2025. [Online: March 2025] JCR-JIF JCR-JIF: 5,000 Q1 (2024) - SJR: 1,714 Q1 (2024)
