IDEAS home Printed from https://ideas.repec.org/a/eee/appene/v381y2025ics0306261924024875.html
   My bibliography  Save this article

Optimizing trading of electric vehicle charging flexibility in the continuous intraday market under user and market uncertainties

Author

Listed:
  • Chemudupaty, Raviteja
  • Hornek, Timothée
  • Pavić, Ivan
  • Potenciano Menci, Sergio

Abstract

The rise in electric vehicles (EVs) challenges energy suppliers with unpredictable charging behavior, making demand forecasts less accurate and increasing financial risks from power imbalances. In Europe, retailers can trade these imbalances in short-term markets like the continuous intraday (CID) market. By controlling EV charging times, suppliers can shift charging to periods with lower prices, potentially benefiting financially. However, the financial gains from trading this flexibility in the CID market remain uncertain due to EV user behavior and price fluctuations. In this study, we develop and test trading strategies designed to manage the power needs of a fleet of 1000 EVs across different segments of short-term electricity markets, focusing on the day-ahead (DA) auction, and the CID market. To address EV-use uncertainty, we take an initial EV charging flexibility forecast for the DA auction, and an updated forecast for the CID market. We find that trading in the CID market reduces the overall cost of making power purchases by capitalizing on the flexibilities of EV charging times. Our results suggest that energy suppliers trading in the CID market significantly reduce their financial risk, even when there are high margins of error in EV flexibility forecasts. In our scenario with the highest deviation between the DA and intraday (ID) flexibility metrics, applying the best CID strategies yielded an average yearly profit of €37.52 and €4,840.63 in 2019 and 2022 respectively. In comparison to the baseline strategy, which clears volumes as imbalances, the corresponding financial savings amounted to €1978.52 and €16,632.25, respectively.

Suggested Citation

  • Chemudupaty, Raviteja & Hornek, Timothée & Pavić, Ivan & Potenciano Menci, Sergio, 2025. "Optimizing trading of electric vehicle charging flexibility in the continuous intraday market under user and market uncertainties," Applied Energy, Elsevier, vol. 381(C).
    • Handle: RePEc:eee:appene:v:381:y:2025:i:c:s0306261924024875
    DOI: 10.1016/j.apenergy.2024.125103
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0306261924024875
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.apenergy.2024.125103?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:appene:v:381:y:2025:i:c:s0306261924024875. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.