Abstract
To make full use of the flexible charging and discharging capabilities of the growing number of electric vehicles (EVs), a bidding strategy for EV aggregators to participate in a day-ahead electricity energy market is proposed in this work. The proposed bidding strategy is able to reduce the operating cost of the EV aggregators and to handle the uncertainties of day-ahead market prices properly at the same time. Agreements between the EV owners and the aggregators are discussed, and a hierarchical market structure is proposed. While assuming the aggregators as economic rational entities, the bidding strategy is established based on the market prices, extra battery charging/discharging costs and the expected profits. The bidding clearing system will display the current/temporal market clearance results of the day-ahead market before the final clearance, and hence the market participants can revise their bids and mitigate the risks, to some extent, of forecasted market price forecast errors. Numerical results with a modified IEEE 30-bus system have demonstrated the feasibility and effectiveness of the proposed strategy.
Highlights
As a promising means of transportation to replace conventional petroleum fuel vehicles and reduce greenhouse gas emissions, electric vehicles (EVs) have become increasingly popular around the world in recent years [1,2,3]
The DC optimal power flow model that only considers the capacity limits of transmission lines is employed for simplicity, since the study of this paper focuses on the bidding strategy formulation for EV aggregators
The problem of developing optimal bidding strategies for EV aggregators in a day-ahead electricity energy market is addressed in this paper
Summary
As a promising means of transportation to replace conventional petroleum fuel vehicles and reduce greenhouse gas emissions, electric vehicles (EVs) have become increasingly popular around the world in recent years [1,2,3]. Market mechanisms are more promising for scheduling the EVs, as the EV aggregators will be automatically motivated to maximize their profits based on the price signals in the concerned electricity market Given this background, a bidding strategy for EV aggregators to participate the day-ahead electricity energy market is proposed in this paper. The major contributions of this paper mainly include the following two points: (1) the interactions between EVs and EV aggregators are examined based on the stochastic characteristics and charging requirements of EVs; (2) a bidding strategy is presented for EV aggregators participating in the day-ahead electricity market without requiring accurate price predictions, and can be utilized to alleviate the financial risks caused by the uncertainties of market clearing prices.
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