A network-constrained rolling transactive energy model for EV aggregators participating in balancing marke

TL;DR

This paper presents a network-constrained rolling optimization model for EV aggregators to participate in balancing markets, ensuring security and market efficiency amid uncertainties through iterative price negotiation.

Contribution

It introduces a novel rolling optimization framework that integrates network security, market participation, and uncertainty management for EV aggregators.

Findings

Ensures continuous network security via iterative price negotiation.

Guarantees solution optimality through convexification.

Effectively manages uncertainties from prediction errors.

Abstract

The increasing adoption of renewable energy sources increases the need for balancing power. The security concerns of the distribution system operators are increasing due to fast adoption of distributed energy resources. So far, various operational models are proposed to manage the distributed energy resources for economic benefit. However, there is lack of an efficient operational model that balances the security, market, and uncertainty management. With the focus on the aggregators operation, this paper developed an operational model for continuous operation of aggregators interactively with the grid operators. A rolling optimization model is developed to manage the uncertainties from prediction errors. The network security is ensured continuously through an iterative price negotiation process between the distribution network operator and the aggregators. The optimality of the solution is guaranteed by convexification of the mixed integer formulation.