Profit maximization planning of a Load Aggregator using Electric Vehicles through optimal scheduling of day ahead load

This paper proposes profit maximization plan of a Load Aggregator (LA) through optimal scheduling of imported power with the proper utilization of storage capacity of Electric Vehicles (EVs). The integrations of renewable energy sources are increasing in both generation and distribution networks, which lead to price and demand uncertainties in real time power system operation. Though there are uncertainties in both load and price but the optimal utilization of EVs can make the operation more flexible for LAs. Generally LAs predict the day-ahead load and price, as they are price taker they submit their offer based on forecasted load but with the proper utilization of EVs helps them to maximize profits. In this paper load aggregators profit maximization plan for twelve months is formulated and the formulated problem has been simulated with the help of CVX (convex), a MATLAB based optimized tool. A hypothetical group of 10,000 electric vehicles are considered and assumed at least 50% of them will be plugged in for whole period of time. The comparisons of the simulated results with optimal utilization of EVs and without EVs show the profit maximization plan for a load aggregator.