Spinning reserve supply with presence of electric vehicles aggregator considering compromise between cost and reliability

By increasing the spinning reserve capacity, reliability of the power system is improved, however, total cost is increased. Therefore to supply the spinning reserve of power system, a compromise between reliability and cost should be considered. In this study, by considering the value of lost load for each important customer, the spinning reserve capacity is determined based on minimisation of total cost of problem. In addition, to supply the spinning reserve of power system, a new market player called plug‐in electric vehicles (PEVs) aggregator is proposed. In this base, the aggregator's self‐scheduling problem for participating in spinning reserve market is modelled using an agent‐based model and behaviour of the PEVs fleet is modelled from the aggregator's point of view. To improve the accuracy of results, the market players are considered as price makers and their offers to the market are modelled using a dynamic game theory simulation. The numerical results show that the presence of PEVs aggregator in spinning reserve market has desired impacts on power system reliability and total cost of system.