Exploitation of Vehicle-to-Grid in Regulation Market

Regulation service corrects for short-term changes in electricity use that might affect the stability of the power system. It helps match generation and load and adjusts generation output to maintain the desired frequency. Vehicle-togrid (V2G) provides the potential for the system operator to call on the electric vehicle (EV) as a distributed energy resource and offers financial benefits to vehicle owner when supplying regulation services. In this work, using a stochastic model for the regulation signal, a model for the two-settlement market and fleet aggregator (FA) behavior we show that the problem of determining optimal contract offering for a FA can be solved using convex programming and coherent approaches to risk in optimization under uncertainty.