The Optimal Bidding Strategy of EV Aggregators on the Electricity Market

Changes in electricity consumption throughout the day, week, and year require changes or monitoring of electricity generation to keep the power system in balance, which is even more difficult to achieve if electricity generation is from renewable energy sources (RES). One solution to the problem is to increase the flexibility of the power system by integrating battery energy storage systems (BESSs). Electric vehicles (EVs) have great application potential due to their large battery capacity and charging station power, while at the same time, they have lower investment costs than stationary BESSs. Furthermore, EVs, or charging stations, are distributed throughout the entire power system, making managing or aggregating them possible. EV aggregation enables EV owners to participate in the electricity market with mutual interest. Based on the mixed integer linear programming (MILP) optimization model, this paper investigates which parameters influence the total profit achieved during EV aggregation. The results obtained with the proposed optimization model show that the state of charge (SOC) limitation, the amount of maximum charging and discharging power, and the stored energy in EV batteries impact the profit achieved in the electricitymarket.