access icon openaccess Stochastic bidding strategy for electrical vehicle charging stations to participate in frequency containment reserves markets

This study presents a stochastic bidding strategy for electrical vehicle charging stations (EVCSs) to participate in frequency containment reserves (FCRs) markets. To achieve this, the study starts by developing deterministic models to calculate the maximum FCR that could be provided by each charging event (cycle) of an electric vehicle. These models are established based on the technical requirements of FCR in the Nordic flexibility market, namely the frequency containment reserve for normal operation and frequency containment reserve for disturbances. These deterministic models will be combined with historical data of charging records in EVCS to develop a methodology to calculate the probability density functions of the FCR profiles. Finally, the optimum FCR profiles, which maximise the expected profit of EVCS from participating in the day-ahead flexibility market, are estimated by performing a stochastic optimisation. The proposed methodology is evaluated by using empirical charging data of public EVCS in the Helsinki area.

Inspec keywords: stochastic processes; power markets; probability; power generation economics; electric vehicles

Other keywords: deterministic models; electrical vehicle charging stations; frequency containment reserves markets; electric vehicle; stochastic bidding strategy; charging event; optimum FCR profiles; frequency containment reserve; empirical charging data; Nordic flexibility market; stochastic optimisation; maximum FCR; day-ahead flexibility market

Subjects: Transportation; Power system management, operation and economics; Other topics in statistics

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