Optimal participation of an electric vehicle aggregator in day-ahead energy and reserve markets

Mushfiqur R. Sarker, Yury Dvorkin, Miguel A. Ortega-Vazquez

Research output: Contribution to journalArticle

Abstract

An aggregator acts as a mediator between the system operator and residential customers, enabling mutually beneficial coordination for electric vehicle (EV) owners and the power system. The aggregator aims to maximize its profits from trading energy and regulation reserve in wholesale markets. Since the aggregator does not own EV batteries, the EV owners must be reimbursed for the degradation of their batteries due to the additional cycling beyond transportation needs. This paper proposes a bidding strategy for the aggregator to maximize its profits from participating in competitive energy and different regulating reserves markets, while compensating EV owners for degradation. The results show that depending on the battery cost, the aggregator splits its resources between the energy and reserves markets. The results also show the system operator attains cost savings, if an aggregator uses EVs to provide services.

Original languageEnglish (US)
Article number7328775
Pages (from-to)3506-3515
Number of pages10
JournalIEEE Transactions on Power Systems
Volume31
Issue number5
DOIs
StatePublished - Sep 1 2016

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Electric vehicles
Profitability
Degradation
Costs

Keywords

  • Aggregator
  • electric vehicles
  • power markets
  • regulation

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Electrical and Electronic Engineering

Cite this

Optimal participation of an electric vehicle aggregator in day-ahead energy and reserve markets. / Sarker, Mushfiqur R.; Dvorkin, Yury; Ortega-Vazquez, Miguel A.

In: IEEE Transactions on Power Systems, Vol. 31, No. 5, 7328775, 01.09.2016, p. 3506-3515.

Research output: Contribution to journalArticle

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