Coordination of Electric Vehicle Aggregator Participation in the Day-Ahead Market

Motivated by the high electric vehicle (EV) penetration percentages foreseen for the near future, we study the integration of large fleets of electric vehicles into the existing electricity market structure, with special emphasis on day-ahead markets. Specifically, the large energy requirements characteristic of the widespread use of EVs require careful managing in order to limit environmental and infrastructural impacts. A key characteristic of EVs is their intrinsic flexibility, given that most vehicles are idle most of the day. This translates into coordination opportunities which allow for the temporal spreading of the energy consumption of an EV fleet, avoiding unnecessary demand peaks which translate into increased electricity prices and stress in the grid. Given the self-interested nature of market participants, this coordination is challenging and needs to be carefully addressed.