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In this paper, optimization of Electric Vehicle (EV) batteries and dedicated energy storage unit charging profiles were conducted for the sake of bidding into day-ahead ancillary service markets. The aim of the optimization is to provide the maximum operational profits for both the EV aggregator and dedicated energy storage unit administrator. Ancillary service algorithms were then introduced to simulate the response of the EV batteries and dedicated energy storage units. Results showed that the usage of dedicated energy storage units for bidding into the ancillary services markets is more profitable than the case of operating an EV aggregator.
Aldik et al. (2019) studied this question.