  This work presents a suite of two optimisation models for the short-term
scheduling and redispatch of a virtual power plant (VPP) composed of a wind
farm and a Li-ion battery, that participates in the day-ahead energy and
secondary regulation reserve markets of the Iberian electricity market. First,
a two-stage stochastic mixed-integer linear programming model is used to obtain
the VPP's generation and reserve schedule and the opportunity cost of the
energy stored in the battery. The model has an hourly resolution and a
look-ahead period beyond the markets' scheduling horizon and considers the
hourly battery degradation costs as a function of both the depth of discharge
and the discharge rate. Different strategies are evaluated to forecast the
real-time use of the committed secondary regulation reserves. Second, a
deterministic MILP model is used to determine the redispatch of the VPP using
as input the generation and reserve schedule and the VPP's storage opportunity
cost provided by the former model and is executed on an hourly rolling basis.
The results obtained show that the proposed models are effective for the
short-term scheduling and redispatch of the VPP used with a low computational
time, making them tractable and practical for their daily use.
