Bidding Strategy for Aggregators of Electric Vehicles in Day-Ahead Electricity Markets

Yunpeng Guo, Weijia Liu, Fushuan Wen, Abdus Salam, Jianwei Mao and Liang Li
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Yunpeng Guo: School of Electrical and Electronic Engineering, North China Electric Power University, Beijing 102206, China
Weijia Liu: School of Electrical Engineering, Zhejiang University, Hangzhou 310027, China
Fushuan Wen: Department of Electrical and Electronic Engineering, Universiti Teknologi Brunei, Bandar Seri Begawan BE1410, Brunei
Abdus Salam: Department of Electrical and Electronic Engineering, Universiti Teknologi Brunei, Bandar Seri Begawan BE1410, Brunei
Jianwei Mao: Division of Electric Vehicle Service, State Grid Zhejiang Electric Power Company, Hangzhou 310007, China
Liang Li: Division of Electric Vehicle Service, State Grid Zhejiang Electric Power Company, Hangzhou 310007, China

Energies, 2017, vol. 10, issue 1, 1-20

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.

Keywords: electricity market; electric vehicle (EV); electric vehicle aggregator; economic dispatch; bidding strategy (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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