Optimal Decision-Making Strategy of an Electric Vehicle Aggregator in Short-Term Electricity Markets
AbstractThis paper proposes the problem of decision making of an electric vehicle (EV) aggregator in a competitive market in the presence of different uncertain resources. In the proposed model, a bi-level problem is formulated where, in the upper-level, the objective of the aggregator is to maximize its expected profit through its interactions and, in the lower-level, the EV owners minimize their payments. Therefore, the objectives of the upper and the lower-level are contrary. To solve the obtained nonlinear bi-level program, Karush-Kuhn-Tucker (KKT) optimality conditions and strong duality are applied to transform the initial problem into a linear single-level problem. Moreover, to deal with various uncertainties, including market prices, EVs charge/discharge demands and the prices offered by rivals, a risk measurement tool is incorporated into the problem. The proposed model is finally applied to a test system and its effectiveness is evaluated. Simulation results show that the proposed approach has the potential to offer significant benefits to the aggregator and EV owners for better decision-making in an uncertain environment. During different situations, it is observed that with increasing risk-aversion factor, as the aggregator tries to hedge against volatilities, its purchases from day-ahead and negative balancing markets decreases significantly. However, the participation of EV aggregator in the positive balancing market increases accordingly to make more profit. View Full-Text
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Rashidizadeh-Kermani, H.; Najafi, H.R.; Anvari-Moghaddam, A.; Guerrero, J.M. Optimal Decision-Making Strategy of an Electric Vehicle Aggregator in Short-Term Electricity Markets. Energies 2018, 11, 2413.
Rashidizadeh-Kermani H, Najafi HR, Anvari-Moghaddam A, Guerrero JM. Optimal Decision-Making Strategy of an Electric Vehicle Aggregator in Short-Term Electricity Markets. Energies. 2018; 11(9):2413.Chicago/Turabian Style
Rashidizadeh-Kermani, Homa; Najafi, Hamid R.; Anvari-Moghaddam, Amjad; Guerrero, Josep M. 2018. "Optimal Decision-Making Strategy of an Electric Vehicle Aggregator in Short-Term Electricity Markets." Energies 11, no. 9: 2413.
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