Modeling electric vehicles in equilibrium analysis of electricity markets

High penetration of electric vehicles (EVs) in power system will significantly bring a large number of load and storage capacities. Different competition modes of EVs will have different effects on electricity markets. In this paper, Cournot competition equilibrium models of electricity market with different competition modes of EVs are developed and the theoretical analysis of market prices become leveled during off-peak and peak period is made. Numerical examples are presented to verify the validity of the theoretical analysis and the effectiveness of the proposed models. It is shown that EVs fleet can smooth market prices curve with arbitrage charging and discharging, especially when EVs fleet acts as a price-taker, it can reach the effect of peak load shifting. In addition, the battery depreciation costs will largely affect the price-smoothing effect. © Springer-Verlag Berlin Heidelberg 2014.