en Day-Ahead and Intra-Day Scheduling Day-Ahead and Intra-Day Scheduling Research Paper Research Paper <div style="text-align: justify;"><span style="font-family:Times New Roman;"><span style="font-size:12px;"><span lang="EN-GB"><span new="" roman="" times="">Operation scheduling of a Virtual Power Plant (VPP) includes several challenges for the system according to the uncertain parameters, and security requirements, which intensify the need for more efficient models for energy scheduling and power trading strategies. Making suitable decisions under uncertainties, related to Renewable Energy Resources (RES), loads, and market prices impose extra considerations for the problem to make a clearer insight for the system operators to participate in local markets. This paper proposes a new risk-based hybrid stochastic model to investigate the effects of wind turbine power fluctuations on profit function, energy scheduling, and market participating strategies. Also, an incentivized Demand Response Program (DRP) is used, to enhance the system&rsquo;s efficiency. The results of the study indicate that the proposed model based on Information Gap Decision Theory (IGDT) approach makes a clearer environment for the decision-maker to be aware of the effects of risk-taking or a risk-averse strategy on financial profits. The results show that a 30% of robustness and opportunity consideration would change the profit function from -12.5% up to 14.5%, respectively. A modified IEEE 33 bus test system is used to simulate a technical VPP considering the voltage stability and thermal capacity of line requirements.</span></span></span></span></div> Virtual Power Plant, Uncertainty, Stochastic Programming, IGDT, Scheduling. 115 129 http://ijeee.iust.ac.ir/browse.php?a_code=A-10-4564-1&slc_lang=en&sid=1 A. Ghanuni احمد قانونی aghanuni94@gmail.com 1800319475328460012767 1800319475328460012767 No Department of Electrical Engineering, Arak Branch, Islamic Azad University, Arak, Iran R. Sharifi رضا شریفی sharifi.r@wtiau.ac.ir 1800319475328460012768 1800319475328460012768 Yes Department of Electrical Engineering, West Tehran Branch, Islamic Azad University, Tehran, Iran H. Feshki Farahani حسن فشکی فراهانی ha.feshki@iau.ac.ir 1800319475328460012769 1800319475328460012769 No Department of Electrical Engineering, Ashtian Branch, Islamic Azad University, Ashtian, Iran