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Open AccessArticle

Impacts of Low-Carbon Fuel Standards in Transportation on the Electricity Market

1
Faculty of Engineering, University of Porto (FEUP), 4200-465 Porto, Portugal
2
Department of Electrical and Electronic Engineering, Federal University of Santa Catarina (UFSC), Florianópolis 88040-900, Brazil
*
Author to whom correspondence should be addressed.
Energies 2018, 11(8), 1943; https://doi.org/10.3390/en11081943
Received: 25 May 2018 / Revised: 29 June 2018 / Accepted: 16 July 2018 / Published: 26 July 2018
(This article belongs to the Section Sustainable Energy)
Electric Vehicles (EVs) are increasing the interdependence of transportation policies and the electricity market dimension. In this paper, an Electricity Market Model with Electric Vehicles (EMMEV) was developed, exploiting an agent-based model that analyzes how carbon reduction policy in transportation may increase the number of Electric Vehicles and how that would influence electricity price. Agents are Energy Service Providers (ESCOs) which can distribute fuels and their objective is to maximize their profit. In this paper, the EMMEV is used to analyze the impacts of the Low-Carbon Fuel Standard (LCFS), a performance-based policy instrument, on electricity prices and EV sales volume. The agents in EMMEV are regulated parties in LCFS should meet a certain Carbon Intensity (CI) target for their distributed fuel. In case they cannot meet the target, they should buy credits to compensate for their shortfall and if they exceed it, they can sell their excess. The results, considering the assumptions and limitations of the model, show that the banking strategy of the agents contributing in the LCFS might have negative impact on penetration of EVs, unless there is a regular Credit Clearance to trade credits. It is also shown that the electricity price, as a result of implementing the LCFS and increasing number of EVs, has increased between 2% and 3% depending on banking strategy. View Full-Text
Keywords: low-carbon fuel standard; electric vehicles; policy analysis; electricity market; agent-based modelling low-carbon fuel standard; electric vehicles; policy analysis; electricity market; agent-based modelling
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MDPI and ACS Style

Karnama, A.; Peças Lopes, J.A.; Augusto da Rosa, M. Impacts of Low-Carbon Fuel Standards in Transportation on the Electricity Market. Energies 2018, 11, 1943.

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