Optimal non-zero pricee bids for EVs in energy and reserves markets using stochastic optimization
conference paper
Abstract—In power systems, demand and supply always have to be balanced. This is becoming more challenging due to the sustained penetration of renewable energy sources and their inherit uncertain production. Because of the increasing amount of electrical vehicles (EVs), and the high capacity and flexibility of their
charging process, EVs are a good candidate for providing balancing services to electric systems. We propose a stochastic optimization method for an EV aggregator that models the uncertainty of the imbalance price, the reserve prices and the probability of acceptance and deployment of reserves. The model results in an optimal charging and discharging strategy considering day-ahead purchase, imbalance trading and reserve bids. Unlike previous studies, the reserve bids consists of both a quantity and an optimal price using a novel efficient formulation for the price bids. Experimental evaluation shows that the proposed stochastic optimization method results in lower costs than deterministic and quantity-only bid solutions.
charging process, EVs are a good candidate for providing balancing services to electric systems. We propose a stochastic optimization method for an EV aggregator that models the uncertainty of the imbalance price, the reserve prices and the probability of acceptance and deployment of reserves. The model results in an optimal charging and discharging strategy considering day-ahead purchase, imbalance trading and reserve bids. Unlike previous studies, the reserve bids consists of both a quantity and an optimal price using a novel efficient formulation for the price bids. Experimental evaluation shows that the proposed stochastic optimization method results in lower costs than deterministic and quantity-only bid solutions.
Topics
TNO Identifier
842831
Source title
15th International Congress on the European Energy Markets, 27-29 June, Lodz, Poland
Pages
1-5
Files
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