Two-stage Optimization Model of Electric Vehicle Participating in Balancing Market

With the rapid development of smart grid and vehicletogrid (V2G) technology, we can alleviate the system imbalance caused by high proportion of renewable energy by carefully designing the balancing market rules and introducing new flexible resources, such as electric vehicle (EV). Firstly, the paper designs the integrated process of EV participating in electricity market by establishing a bilevel architecture with EV aggregator (EVA) and sets a comprehensive process of EVA participating in balancing market. Then, based on the charging and discharging characteristics of EV and the users’ transportation demand, the paper proposes an implementation framework of EVs participating in balancing market, including contract details, EVs characteristics and vehicle grouping. Finally, based on rolling horizon procedure, an optimization model for EVA participating in the day-ahead market and the balancing market at the same time is established to make full use of the flexible capabilities of the growing number of EV. The MATLAB/CPLEX software is used to illustrate the impact of the proposed model on EV user's profit by comparing with the traditional clearing model of the balancing market involving only generators. The result shows that the model can improve the benefits of EVA and reduce the balancing cost of the system.