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PAPER: Optimal coordinated bidding of a profit-maximizing EV aggregator under uncertainty

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What is the Problem?
Application of EVs in providing services to the grid through aggregator depends on the economic benefits of different stakeholders. Therefore, developing appropriate aggregation algorithms that deal with uncertainties involved in the process becomes very important.
Why is it Interesting?
From power system operation point of view, EVs are mobile storage that can be used for the benefit of power system operation. Thousands of EVs can provide substantial amount of storage without upfront costs to the system operator.
What is the Approach?
An optimisation formulation is developed considering undertainty in the market prices and EVs availability considering battery degradation cost. Then, the problem is solved as a two-stage stochastic programming to find the best bids for the aggregator’s participation in the market.
What is New?
The bidding strategy has not been reported in the literature for EV aggregator. Also, considering the battery degradation cost in the formulation was new, and solving the problem as a two-stage stochastic programming offered a new perspective to solve the problem.
How was it Tested?
The optimisation problem was implemented in GAMS with day-ahead and real-time market mechanisms.