The increasing adoption of electric buses in cities presents an opportunity for these vehicles to serve as mobile energy storage systems, providing valuable grid services through their substantial battery capacity. However, the complex interplay of fleet management and energy market participation requires that public transportation operators (PTOs) use adequate optimisation models and algorithms to make the best operational decisions. To address these issues, our research proposes an aggregator-supported charging strategy using a bi-level optimisation framework for electric bus fleets. The main goal is to achieve a balance between reducing PTO operational costs and maximising aggregator revenues, while ensuring reliable bus system operation. The results indicate that a coordinated charging strategy, including energy arbitrage and reserve provision, can significantly reduce operational costs, although potential limitations arise from associated battery degradation costs. Furthermore, managing fleets for reserve services appears to be more lucrative than engaging in energy arbitrage schemes. In this context, this study emphasizes the role of aggregator entities in managing the energy flexibility of electric bus fleets and enhancing the sustainability and cost-effectiveness of urban public transportation.
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