# VPP Participation in the FCR Cooperation Considering Opportunity Costs
## 5 Conclusions
Therefore,a subject for future investigation involves exploring the trade-off between the VPP bid size, revenues, opportunity costs, and the values associated with the variables \(RGS_{c}\) and \(RDS_{c}\). F.J.R. : investigation, conceptualization, methodology, software, writing--original draft preparation, visualization, and funding acquisition. J.A.P.L. : validation, writing--review and editing, supervision, and funding acquisition. F.J.S. : validation, writing--review and editing, supervision, and funding acquisition. A.G.M. : validation, writing--review and editing, supervision, and funding acquisition. All authors read and agreed to the published version of the manuscript. The work of [PERSON] was supported by FCT/MCTES/Portuguese Republic under the grant SFRH/BD/151414/2021, which was under the MIT Portugal Program. This article was co-financed by Component 5--Capitalization and Business Innovation, which was integrated in the Resilience Dimension of the Recovery and Resilience Plan within the scope of the Recovery and Resilience Mechanism (MRR) of the European Union (EU), framed in the Next Generation EU, for the period 2021-2026, within project ATE, with reference 56. As stated in Section 2, the model's implementation is available in a downloadable spreadsheet on the Zenodo platform: [15]. The authors declare no conflicts of interest. \begin{table}
\begin{tabular}{l c c c c c c c c c} \hline \hline
**Scenario** & \multicolumn{3}{c}{**Scenario 1 “Fessimistic” 2025**} & \multicolumn{3}{c}{**Scenario 2 “Expected” 2025**} & \multicolumn{3}{c}{**Scenario 3 “Teledged” 2000**} \\ \hline
**Year** & **2020** & **2021** & **2022** & **2020** & **2021** & **2022** & **2020** & **2021** & **2022** \\ \hline Part 1: Without opportunity costs & & & & & & & & & \\ \hline Market sessions VPP participated in & 99\% & 99\% & 100\% & 99\% & 99\% & 100\% & 99\% & 99\% & 99\% \\ PCR covered by VPP & 3\% & 4\% & 5\% & 5\% & 5\% & 5\% & 34\% & 40\% & 32\% \\ \(\Sigma VPR_{J}\) & EUR 894.2K & EUR 4M & EUR 6.3M & EUR 1.2M & EUR 8.3M & EUR 14.1M & EUR 6.6M & EUR 38.0M & EUR 38.8M \\ \hline Part 2: Opportunity costs & & & & & & & & \\ \hline \(\Sigma_{T}\)_UP_OC\({}_{J}\)_ & EUR 367.0K & EUR 751.6K & EUR 776.4K & EUR 416.3K & EUR 1.2M & EUR 1.5M & EUR 3.5M & EUR 7.2M & EUR 4.9M \\ \(\Sigma_{T}\)_DN_OC\({}_{J}\)_ & EUR 464.1K & EUR 2.4M & EUR 4.1M & EUR 545.0K & EUR 4.5M & EUR 8.3M & EUR 4.4M & EUR 22.7M & EUR 24.3M \\ \hline Part 3: Decision & & & & & & & & \\ \hline Market sessions VPP participated in & 52\% & 58\% & 58\% & 51\% & 58\% & 51\% & 58\% & 58\% & 58\% \\ PCR covered by VPP & 3\% & 4\% & 5\% & 5\% & 8\% & 11\% & 34\% & 40\% & 32\% \\ \(\Sigma_{T}\)_VPR\({}_{J}\)_ & EUR 585.0K & EUR 31.3M & EUR 4.8M & EUR 854.7K & EUR 8.6M & EUR 11.3M & EUR 5.6M & EUR 29.5M & EUR 31.0M \\ \(\Sigma_{T}\)_UP_IRS\({}_{J}\)_ & EUR 183.9K & EUR 432.4K & EUR 498.6K & EUR 253.0K & EUR 852.2K & EUR 1.1M & EUR 1.8M & EUR 24.2M & EUR 3.3M \\ \(\Sigma_{T}\)_DN_IRS\({}_{J}\)_ & EUR 188.7K & EUR 1.2M & EUR 1.8M & EUR 207.6K & EUR 2.6M & EUR 4.1M & EUR 1.8M & EUR 11.4M & EUR 12M \\ \(\Sigma_{T}\)_V_IRS\({}_{J}\)_ & EUR 212.0K & EUR 1.4M & EUR 2.5M & EUR 33.0K & EUR 3.4M & EUR 6.1M & EUR 20.0M & EUR 13.9M & EUR 16.1M \\ \hline \multicolumn{10}{c}{The indicators} & & & & & & & \\ \hline Capacity factor of HEs & 64\% & 68\% & 78\% & 64\% & 68\% & 78\% & 62\% & 66\% & 48\% \\ \(\forall GS_{c}\) & 2\% & 2\% & 9\% & 5\% & 5\% & 5\% & 10\% & 10\% & 10\% \\ \hline \hline \end{tabular}
\end{table} 
Table 2: Results for Spain, disaggregated by year.