Title :
Participation of electric vehicles in electricity markets through a decentralized mechanism
Author :
Papadaskalopoulos, Dimitrios ; Strbac, Goran
Author_Institution :
Dept. of Electr. & Electron. Eng., Imperial Coll., London, UK
Abstract :
In the emerging power systems setting, the realization of the demand flexibility potential needs to be coupled with its integration in electricity markets. Decentralization of market mechanisms constitutes a major challenge towards the achievement of such integration. In this paper, a decentralized day-ahead pool market mechanism is proposed, based on Lagrangian Relaxation (LR) principles. Issues related to demand participation through the proposed mechanism are addressed from the perspective of electric vehicles (EV) due to their significant flexibility potential. Their local, surplus maximization bidding problems are formulated taking into account their detailed, inter-temporal characteristics. Discontinuities in their market behaviour and their impacts on equilibrium existence are identified and a suitable LR-heuristic method is proposed to reach a satisfactory feasible market clearing solution when such discontinuities make an equilibrium solution unattainable. Benefits realized through the proposed approaches are quantified and analyzed through suitable case studies.
Keywords :
electric vehicles; optimisation; power markets; Lagrangian relaxation principles; bidding problems; decentralized day-ahead pool market; decentralized mechanism; demand flexibility potential; electric vehicles; electricity markets; power systems setting; surplus maximization; Batteries; Electric vehicles; Electricity supply industry; Generators; Heuristic algorithms; Resource management; Vectors; Demand side participation; Lagrangian Relaxation; electric vehicles; electricity pool markets; general equilibrium;
Conference_Titel :
Innovative Smart Grid Technologies (ISGT Europe), 2011 2nd IEEE PES International Conference and Exhibition on
Conference_Location :
Manchester
Print_ISBN :
978-1-4577-1422-1
Electronic_ISBN :
2165-4816
DOI :
10.1109/ISGTEurope.2011.6162732