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With the development of multi-energy systems, Multi-Virtual Power Plants (MVPPs) and Load Aggregators (LAs) are playing an increasingly important role in energy trading. However, existing research still has shortcomings in the comprehensive modeling of multi-VPP competition and multi-energy coupling transactions. Therefore, this paper develops an MVPP-LA non-cooperative game optimization model that accounts for hydrogen blending and low-carbon operation. The model incorporates a multi-energy coupling system comprising electricity, heat, gas, and hydrogen, and introduces a staged carbon trading mechanism. In terms of model solving, A C-ADMM-based distributed equilibrium-seeking algorithm is developed to coordinate local optimization and bilateral trading consensus among VPPs and the LA. Case studies show that the proposed model can effectively stimulate trading activity in the MVPP, improve energy efficiency, and reduce carbon emissions.
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Ma et al. (2026) studied this question.
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