Date Added: Mar 2012
Electric Vehicles (EVs) are likely to become very popular worldwide within the next few years. With possibly millions of such vehicles operating across the country, one can establish a distributed electricity storage system that comprises of the EVs' batteries with a huge total storage capacity. This can help the power grid by providing various ancillary services, once an effective Vehicle-To-Grid (V2G) market is established. In this paper, the authors propose a new game-theoretic model to understand the interactions among EVs and aggregators in a V2G market, where EVs participate in providing frequency regulation service to the grid. They develop a smart pricing policy and design a mechanism to achieve optimal frequency regulation performance in a distributed fashion.