An Analysis of Price Competition in Heterogeneous Electric Vehicle Charging Stations

Woongsup Lee; Robert Schober; Vincent W.S. Wong

doi:10.1109/TSG.2018.2847414

An Analysis of Price Competition in Heterogeneous Electric Vehicle Charging Stations

Woongsup Lee, Robert Schober, Vincent W.S. Wong

Graduate School of Information

Research output: Contribution to journal › Article › peer-review

32 Citations (Scopus)

Abstract

In this paper, we investigate the price competition among electric vehicle charging stations (EVCSs) with renewable power generators (RPGs). Both a large-sized EVCS (L-EVCS) and small-sized EVCSs (S-EVCSs), which have different capacities, are considered. Moreover, the price elasticity of electric vehicles (EVs), the effect of the distance between an EV and the EVCSs, and the impact of the number and type of charging outlets at the EVCSs on the behavior of EVs are taken into account. The electricity demand of the EVCSs is modeled and analyzed using a multiplicatively weighted Voronoi diagram. The price competition between EVCSs is studied by using a Stackelberg game and the electricity price is determined. Through simulations, the correctness of our analysis is validated and the payoff of the EVCSs is examined for various environments. Our results reveal that although the payoff of the EVCSs is generally small, it is higher than when the electricity from the RPGs is directly sold to the power grid. We also find that the payoff of the EVCSs is significantly affected by the elasticity of the electricity demand of the EVs. Furthermore, the payoff of the L-EVCS is inversely proportional to that of the S-EVCSs.

Original language	English
Article number	8385151
Pages (from-to)	3990-4002
Number of pages	13
Journal	IEEE Transactions on Smart Grid
Volume	10
Issue number	4
DOIs	https://doi.org/10.1109/TSG.2018.2847414
Publication status	Published - 2019 Jul

Bibliographical note

Funding Information:
Manuscript received July 27, 2017; revised November 10, 2017, January 16, 2018, and April 7, 2018; accepted June 8, 2018. Date of publication June 14, 2018; date of current version June 19, 2019. This work was supported by the Basic Science Research Program through the National Research Foundation of South Korea funded by the Ministry of Education under Grant NRF-2015R1D1A1A01057529. Paper no. TSG-01061-2017. (Corresponding author: Woongsup Lee.) W. Lee is with the Department of Information and Communication Engineering, Institute of Marine Industry, Gyeongsang National University, Tongyeong 650-160, South Korea (e-mail: wslee@gnu.ac.kr).

Publisher Copyright:
© 2010-2012 IEEE.

All Science Journal Classification (ASJC) codes

Computer Science(all)

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10.1109/TSG.2018.2847414

Cite this

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title = "An Analysis of Price Competition in Heterogeneous Electric Vehicle Charging Stations",

abstract = "In this paper, we investigate the price competition among electric vehicle charging stations (EVCSs) with renewable power generators (RPGs). Both a large-sized EVCS (L-EVCS) and small-sized EVCSs (S-EVCSs), which have different capacities, are considered. Moreover, the price elasticity of electric vehicles (EVs), the effect of the distance between an EV and the EVCSs, and the impact of the number and type of charging outlets at the EVCSs on the behavior of EVs are taken into account. The electricity demand of the EVCSs is modeled and analyzed using a multiplicatively weighted Voronoi diagram. The price competition between EVCSs is studied by using a Stackelberg game and the electricity price is determined. Through simulations, the correctness of our analysis is validated and the payoff of the EVCSs is examined for various environments. Our results reveal that although the payoff of the EVCSs is generally small, it is higher than when the electricity from the RPGs is directly sold to the power grid. We also find that the payoff of the EVCSs is significantly affected by the elasticity of the electricity demand of the EVs. Furthermore, the payoff of the L-EVCS is inversely proportional to that of the S-EVCSs.",

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An Analysis of Price Competition in Heterogeneous Electric Vehicle Charging Stations

Abstract

Bibliographical note

All Science Journal Classification (ASJC) codes

UN SDGs

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