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An Agent Trading on Behalf of V2G Drivers in a Day-Ahead Price Market

An Agent Trading on Behalf of V2G Drivers in a Day-Ahead Price Market
An Agent Trading on Behalf of V2G Drivers in a Day-Ahead Price Market

Due to the limited availability of fuel resources, there is an urgent need for converting to use renewable sources efficiently. To achieve this, power consumers should participate actively in power production and consumption. Consumers nowadays can produce power and consume a portion of it locally, and then could offer the rest of the power to the grid. Vehicle-to-grid (V2G) which is one of the most effective sustainable solutions, could provide these opportunities. V2G can be defined as a situation where electric vehicles (EVs) offer electric power to the grid when parked. We developed an agent to trade on behalf of V2G users to maximize their profits in a day-ahead price market. We then ran the proposed model in three different scenarios using an optimal algorithm and compared the results of our solution to a benchmark. We show that our solution outperforms the benchmark strategy in the proposed three scenarios 49%, 51%, and 10% respectively in terms of profit.
V2G, Driving Behaviour, Price Uncertainty
Almansour, Ibrahem, Abdullah
8c03bd9d-3544-46e4-bf23-66acd1abeb00
Gerding, Enrico
d9e92ee5-1a8c-4467-a689-8363e7743362
Wills, Gary
3a594558-6921-4e82-8098-38cd8d4e8aa0
Almansour, Ibrahem, Abdullah
8c03bd9d-3544-46e4-bf23-66acd1abeb00
Gerding, Enrico
d9e92ee5-1a8c-4467-a689-8363e7743362
Wills, Gary
3a594558-6921-4e82-8098-38cd8d4e8aa0

Almansour, Ibrahem, Abdullah, Gerding, Enrico and Wills, Gary (2017) An Agent Trading on Behalf of V2G Drivers in a Day-Ahead Price Market At International Conference on Vehicle Technology and Intelligent Transport Systems, Porto, Portugal. 22 - 24 Apr 2017. 7 pp.

Record type: Conference or Workshop Item (Paper)

Abstract


Due to the limited availability of fuel resources, there is an urgent need for converting to use renewable sources efficiently. To achieve this, power consumers should participate actively in power production and consumption. Consumers nowadays can produce power and consume a portion of it locally, and then could offer the rest of the power to the grid. Vehicle-to-grid (V2G) which is one of the most effective sustainable solutions, could provide these opportunities. V2G can be defined as a situation where electric vehicles (EVs) offer electric power to the grid when parked. We developed an agent to trade on behalf of V2G users to maximize their profits in a day-ahead price market. We then ran the proposed model in three different scenarios using an optimal algorithm and compared the results of our solution to a benchmark. We show that our solution outperforms the benchmark strategy in the proposed three scenarios 49%, 51%, and 10% respectively in terms of profit.

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More information

Accepted/In Press date: 23 February 2017
Venue - Dates: International Conference on Vehicle Technology and Intelligent Transport Systems, Porto, Portugal, 2017-04-22 - 2017-04-24
Keywords: V2G, Driving Behaviour, Price Uncertainty
Organisations: Agents, Interactions & Complexity, Electronics & Computer Science

Identifiers

Local EPrints ID: 406436
URI: http://eprints.soton.ac.uk/id/eprint/406436
PURE UUID: b954f409-b3ad-4d16-aba4-2e1912f75edf
ORCID for Gary Wills: ORCID iD orcid.org/0000-0001-5771-4088

Catalogue record

Date deposited: 10 Mar 2017 10:47
Last modified: 25 Jul 2017 16:31

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