Quotation strategy for electric vehicle aggregators in electricity spot market

The rapid development of electric vehicles (EVs) has created more possibilities for their flexible participation in electric power dispatching. Considering the clustering and fast mobility of EVs coinciding with real-time market requirements for responsive demands, a bidding strategy is proposed in this paper to assist EV aggregators with submitting reasonable quotations for the real-time market. Based on Bayesian updating, the strategy in this paper considers relevant factors such as aggregator cost and expected return. First, a quotation strategy in electricity spot market is proposed for EV aggregators. Second, the applicable scope of the strategy is given under different scenarios. Then, the objective function of learning is proposed, and the specific process of Bayesian updating is demonstrated. Finally, a case study of the aggregator quotation strategy based on Bayesian updating is simulated to verify the effectiveness and feasibility of the proposed strategy, which helps improve the bidding success rate of EVs and peak-to-valley balance of the grid.