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| Content Provider | IET Digital Library |
|---|---|
| Author | Abbasi, Mohammad Hossein Taki, Mehrdad Rajabi, Amin Li, Li Zhang, Jiangfeng |
| Abstract | In this study, the problem of an electric vehicle (EV) aggregator participating in a three-settlement pool-based market is presented. In addition to energy procurement, it is assumed that EVs can sell electricity back to the markets. In order to obtain optimised solutions, the aggregator is considered as a price-maker agent who tries to minimise the cost of purchasing energy from the markets by offering price-energy bids in the day-ahead market and only energy bids in both adjustment and balancing markets. Since the problem is heavily constrained by equality constraints, the number of binary variables for a 24-hour market horizon is too large which leads to intractability when solved by traditional mathematical algorithms like the interior point. Therefore, an evolutionary metaheuristic algorithm based on genetic algorithms (GAs) is proposed to deal with the intractability. In this regard, first, the stochastic problem is formulated as a mixed-integer linear programming problem, and as a non-linear programming problem to be solved by CPLEX and GA, respectively. The former is used to ensure that the GA is tuned properly, and helps to avoid converging to local extremums. Furthermore, the solutions of the two formulations are compared in simulations to demonstrate GA could be faster in obtaining better results. |
| Starting Page | 860 |
| Ending Page | 869 |
| Page Count | 10 |
| Volume Number | 3 |
| e-ISSN | 25152947 |
| Issue Number | Issue 6, Dec (2020) |
| Alternate Webpage(s) | https://digital-library.theiet.org/content/journals/iet-stg/3/6 |
| Alternate Webpage(s) | https://digital-library.theiet.org/content/journals/10.1049/iet-stg.2019.0210 |
| Journal | IET Smart Grid |
| Publisher | The Institution of Engineering and Technology |
| Publisher Date | 2020-09-11 |
| Access Restriction | Open |
| Rights License | Creative Commons Attribution License (http://creativecommons.org/licenses/by/3.0/) |
| Subject Keyword | 24-hour Market Horizon Balancing Markets Day-ahead Market Electric Vehicle Aggregator Electricity Energy Procurement Evolutionary Metaheuristic Algorithm Genetic Algorithm Integer Programming Intractability Large-scale Price-maker Electric Vehicle Demand Aggregator Linear Programming Mixed-integer Linear Programming Problem Nonlinear Programming Problem Optimisation Optimisation Technique Optimised Solutions Power Generation Economics Power Market Power System Economics Power System Managemen Power System Operation Price-energy Bids Price-maker Agent Pricing Purchasing Energy Risk-constrained Offering Strategy Stochastic Problem Three-settlement Pool-based Market Traditional Mathematical Algorithm |
| Content Type | Text |
| Resource Type | Article |
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