Optimal participation of electric vehicles aggregator in energy and flexible ramping markets

Electric vehicles have fast response and have seen significant growth in the distribution system EVs can be used as flexible energy storage system and play an active role in energy and ancillary services markets. The flexible ramping product (FRP) market is a new ancillary services market, which is recently introduced to cover the uncertainties of load and renewable energy resources in real-time dispatch. The main difference of flexible ramping market and other ancillary services is in the review period of these services, where a 5-min period is considered in the former one and several seconds for the frequency regulation. The amount of provided flexibility by the flexible ramping market is higher than frequency regulation. In this regard, this chapter focuses on solving the bidding strategy problem of EVs aggregator in order to optimally participate in the energy and flexible ramping market under the uncertainties of the system. Analyzing the effects of EVs is a complex task that examines uncertainties, including arrival and exit hours, people routines, primary and external energy levels of parking, traffic conditions, electricity price, and recharge strategies. The main purpose of the proposed model is to maximize the profit of EVs aggregator through participation in the mentioned two markets, where the uncertainties related to the power price and the behavior of electric vehicle owners are modeled under a scenario-based stochastic approach. Finally, simulation and numerical results are provided to investigate the effectiveness of the proposed model.