Optimal Management of Electric Vehicle Fleets

The rapid increase in the number of electric vehicles (EVs) burdens the electricity grid, which must provide the energy required by EV users, creating several operational challenges. A critical issue is the worsening peak-to-valley difference in electricity demand, leading to cost increases, service quality deterioration, and a higher risk of power cuts. In this study, we aim to minimize the impact on the grid and reduce the charging costs for the fleet owner while satisfying additional operational constraints for the fleet and providing auxiliary services to the grid through participation in vehicle-to-grid (V2G) schemes. In the first stage, we will develop a deterministic formulation, revising the assumptions made in the extended project to simplify the model. The presence of multiple charging stations with dynamic electricity prices will be incorporated, along with power system limitations such as voltage limits and generator operating constraints. The current location of the EV fleet will also be considered as a factor influencing their choice of where to charge or discharge. In the second stage, a stochastic formulation will be provided to manage the uncertainty in the travel time of the vehicles and the variations in renewable generation.