# VPP Participation in the FCR Cooperation Considering Opportunity Costs
## 3 Results
\begin{table}
\begin{tabular}{l c c c c c c} \hline \hline  & \multicolumn{2}{c}{**Scenario 1**} & \multicolumn{2}{c}{**Scenario 2**} & \multicolumn{2}{c}{**Scenario 3**} \\  & \multicolumn{2}{c}{**“Pessimistic”**} & \multicolumn{2}{c}{**“Expected”**} & \multicolumn{2}{c}{**“Pledged”**} \\  & \multicolumn{2}{c}{**2025**} & \multicolumn{2}{c}{**2025**} & \multicolumn{2}{c}{**2030**} \\ \hline
**Country (c)** & **PT** & **ES** & **PT** & **ES** & **PT** & **ES** \\ \hline Part 1: Without opportunity costs & & & & & & \\ \hline Market sessions VPP participated in & 87\% & 99\% & 91\% & 99\% & 91\% & 99\% \\ FCR covered by VPP & 10\% & 7\% & 21\% & 13\% & 76\% & 60\% \\ \(\sum_{T}VPR_{c,t}\) & EUR 2.07M & EUR 11.13M & EUR 4.28M & EUR 23.53M & EUR 15.00M & EUR 85.45M \\ \hline Part 2: Opportunity costs & & & & & & \\ \hline \(\sum_{T}UP\_{OPC_{c,t}}\) & EUR 0.35M & EUR 1.90M & EUR 0.72M & EUR 3.18M & EUR 2.58M & EUR 15.63M \\ \(\sum_{T}DN\_{OPC_{c,t}}\) & EUR 1.29M & EUR 6.97M & EUR 2.67M & EUR 13.36M & EUR 9.35M & EUR 51.49M \\ \hline Part 3: Decision & & & & & & \\ \hline Market sessions VPP participated in & 62\% & 57\% & 61\% & 56\% & 61\% & 57\% \\ FCR covered by VPP & 6\% & 4\% & 13\% & 9\% & 45\% & 36\% \\ \(\sum_{T}VR_{c,t}\) & EUR 1.56M & EUR 8.44M & EUR 3.25M & EUR 19.04M & EUR 11.44M & EUR 65.72M \\ \(\sum_{T}UPRS_{c,t}\) & EUR 0.21M & EUR 1.11M & EUR 0.35M & EUR 2.21M & EUR 1.54M & EUR 9.26M \\ \(\sum_{T}DNRS_{c,t}\) & EUR 0.58M & EUR 3.15M & EUR 1.20M & EUR 7.04M & EUR 4.32M & EUR 24.47M \\ \(\sum_{T}VRS_{c,t}\) & EUR 0.78M & EUR 4.18M & EUR 1.61M & EUR 9.80M & EUR 5.58M & EUR 31.99M \\ \hline Other indicators & & & & & & \\ \hline Capacity factor of HEs & 56\% & 71\% & 56\% & 71\% & 50\% & 58\% \\ \(VGS_{c}\) & 3\% & 2\% & 6\% & 5\% & 12\% & 10\% \\ \hline \hline \end{tabular}
\end{table} 
Table 3: Results for the available data (mid-2020 to the end of 2022). Note that the results are divided in the three phases of the methodology (Section 2). For the disaggregated results by year, consult the tables in Appendix A.  
about 13% to the upward providers (HEs), 37% for the downward providers (wind and solar), and the remaining 50% for the VPP itself. Considering the particular year of 2022, in this scenario, the HEs would have an annual revenue of over EUR 91k, as shown in Appendix A. As for other indicators, the capacity factor (the \"capacity factor\" is normally understood as a ratio, e.g., between the generation (or load) in relation to its nominal value: for instance if the average load of the HE in one year is 500 MW and the installed capacity is 1000 MW, then the capacity factor is 50%) of the hydrogen electrolyzers in this case would be 56%. It was previously said that \(VGS_{c}\) is a user-defined variable that was also a result. In this case, the outcome was such that the VPP would need to control as little as 3% of the total installed solar and wind power in the country to assure the downward reserve provision. This is further discussed in Section 4. One note regarding the differences between Portugal and Spain. Take into account that in scenario 1, the HE installed power was four times greater in Spain than in Portugal. For this case, the Portuguese VPP would cover more FCR share and participate in more market sessions than the Spanish one, but overall, the monetary values in Spain were close to five times higher than in Portugal. The observation from Figure 9 suggests that the monthly aggregated revenues for the VPP were notably comparable between Portugal and Spain, differing primarily in magnitude with only a few months showing distinctions. However, Figure 10 illustrates that the distribution of bids per hour was not identical between the VPP in Portugal and the VPP in Spain. Upon examination, it was determined that, for example, in Portugal, there was a slightly higher proportion of bids in the _04-08_ period (\(NEGPOS_{0}408\) is the designation for the product in the existing FCR Cooperation, representing the time from 4 to 8 AM).