A novel concept for calculating electricity price for electrical vehicles

Abstract

This paper presents a new concept for calculating electricity price for electrical vehicles by establishing congestion pricing through the development of locational marginal pricing strategy. The proposed electricity pricing strategy can be used by Individual System Operators whom do not have a feasible resolution aimed at electricity congestion at the moment. This research suggests regulation of electricity pricing of electrical vehicle consumption. In this research, three power flow market analysis with electrical vehicles are simulated and compared by using Power World Simulator. Furthermore, the parameters such as power, current, voltage and charging price are extracted from Power World software and used in the proposed methodology (i.e. distribution locational marginal price) for deciding electricity prices. Collectively, a novel concept is presented for electric vehicles. This concept can be commercialized through a proposition to Energy Market Authority or Individual System Operator by highlighting the affordable price points while easing congestion of transmission lines. For ease of consumer usage, a mobile application has been developed to show the charging prices and corresponding charging locations for electrical vehicles.