Optimal non-zero Price Bids for EVs in Energy and Reserves Markets using Stochastic Optimization

Koos van der Linden, Mathijs de Weerdt, German Morales-Espana

Research output: Chapter in Book/Conference proceedings/Edited volumeConference contributionScientificpeer-review

8 Citations (Scopus)
57 Downloads (Pure)


In power systems, demand and supply always have to be balanced. This is becoming more challenging due to the sustained penetration of renewable energy sources. Because of the increasing amount of electrical vehicles (EVs), and the high capacity and flexibility of their charging process, EVs are a good candidate for providing balancing services to electric systems. We propose a stochastic optimization method for an EV aggregator that models the uncertainty of the imbalance price, the reserve prices and the probability of acceptance and deployment of reserves. The model results in an optimal charging and discharging strategy considering day-ahead purchase, imbalance trading and reserve bids. Unlike previous studies, the reserve bids consists of both a quantity and an optimal price. Experimental evaluation shows that the proposed stochastic optimization method results in lower costs than deterministic and quantity-only bid solutions.
Original languageEnglish
Title of host publication2018 15th International Conference on the European Energy Market (EEM)
Subtitle of host publicationProceedings
Place of PublicationDanvers
Number of pages5
ISBN (Electronic)978-1-5386-1488-4
ISBN (Print)978-1-5386-1489-1
Publication statusPublished - 2018
Event15th International Conference on the European Energy Market, EEM 2018 - Lodz, Poland
Duration: 27 Jun 201829 Jun 2018


Conference15th International Conference on the European Energy Market, EEM 2018

Bibliographical note

Green Open Access added to TU Delft Institutional Repository ‘You share, we take care!’ – Taverne project https://www.openaccess.nl/en/you-share-we-take-care

Otherwise as indicated in the copyright section: the publisher is the copyright holder of this work and the author uses the Dutch legislation to make this work public.


  • Electrical vehicles
  • stochastic opti-mization
  • reserve markets
  • day-ahead markets
  • mixed integer programming

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