Abstract: The power-source-side structure and load-side configuration of the new power system dominated with renewable energy have undergone profound changes,resulting in increasingly prominent difficulties in power and electricity balance,and more urgent demands for flexible and adjustable resources on the user side.Through demand response and coordinated control,the virtual power plant （VPP） aggregates massive,decentralized and diversified flexible loads and distributed energy resources to form a unified and flexible regulation capability of large capacity,which is crucial to ensure the safe and stable operation of the new power system.This paper summarizes the basic concept,business model and key technologies of VPP.Firstly,the concept,characteristics and functions of VPP are introduced,and the demonstration projects of VPP at home and abroad are compared and analyzed.Secondly,the business model of VPP is expounded from the aspects of value proposition,resource composition,business model and cost-benefit.Thirdly,the key technologies of VPP are summarized from the aspects of state perception and flexible aggregation,information prediction and capacity estimation,market transaction and optimization decision,compensation settlement and benefit evaluation,and the key and difficult points of the existing technologies,models and methods are analyzed.Finally,the future development direction of VPP for new power system is prospected.