Power Markets with Information-Aware Self-scheduling Electric Vehicles

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Power Markets with Information-Aware Self-scheduling Electric Vehicles F. Selin Yanikara1

· Panagiotis Andrianesis1 · Michael Caramanis1

© Springer Science+Business Media, LLC, part of Springer Nature 2019

Abstract We consider multi-period (24-h day-ahead) multi-commodity (energy and regulation reserves) decentralized electricity transmission and distribution (T&D) market designs. Whereas conventional centralized generators with uniform price quantity offers are scheduled by a transmission system operator, low-voltage network-connected distributed energy resources (DERs) with complex preferences and requirements, such as electric vehicles (EVs), are allowed to self-schedule adapting to spatiotemporal marginal cost-based prices. We model the salient characteristics of interconnected T&D networks, and we consider self-scheduling DER responses under alternative distribution network information-aware or information-unaware market designs. Moreover, we consider a single (EV load aggregator) network information-aware scheduler market design. Our contribution is the characterization and comparative analysis—analytic as well as numerical—of equilibria, using game-theoretical approaches to prove existence and uniqueness, and the investigation of the role of information on self-scheduling and EV aggregator coordinated EV scheduling. Finally, we derive conclusions on the impact to social welfare and distributional equity of information-aware/information-unaware self-scheduling as well as single EV aggregator scheduling and implications that are relevant to market design and policy considerations. Keywords Decentralized market design · Self-scheduling market participants · Network-connected distributed energy resources · Network information-aware/information-unaware market participants · Multi-commodity/multi-period equilibrium

1 Introduction 1.1 Motivation and Background Distributed energy resources (DERs) are becoming significant in electricity networks. They are capable of flexibly scheduling their hourly consumption, generation and storage levels,

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F. Selin Yanikara [email protected] Division of Systems Engineering, Boston University, Boston, MA 02215, USA

Dynamic Games and Applications

thereby providing valuable hourly and real-time balancing services to the grid. Incorporating flexible DERs is crucial in view of increasing penetration of environmentally clean, yet intermittent and volatile renewable resources. Should existing wholesale markets implemented for centralized generation scheduling be extended to incorporate distribution networks with DER participants, they could bring significant benefits. In this work, we focus on electric vehicle (EV) battery charging as a rapidly increasing DER [15]. EVs can be put to dual use and provide regulation service reserves, while optimally scheduling their hourly charging. We focus on a multi-commodity 24-h day-ahead market, where energy consumption/generation and regulation reserve provision by distribution network-connected EVs and transmission network-connected gener