Universität zu Köln

Valogianni, Konstantina ORCID: 0000-0001-6419-8675, Ketter, Wolfgang ORCID: 0000-0001-9008-142X, Collins, John ORCID: 0000-0002-7881-4595 and Zhdanov, Dmitry ORCID: 0000-0002-3349-7581 (2020). Sustainable Electric Vehicle Charging using Adaptive Pricing. Prod. Oper. Manag., 29 (6). S. 1550 - 1573. HOBOKEN: WILEY. ISSN 1937-5956

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Abstract

A transition to electric vehicles (EVs) is widely assumed to be an important step along the road to environmental sustainability. However, large-scale adoption of EVs may put electricity grids under critical strain, since peaks in electricity demand are likely to increase radically. Efforts to manage demand peaks through pricing schemes may create new peaks at low-price periods, if large numbers of EV owners use smart charging to benefit from low prices. This effect is expected to be amplified when EV owners adopt smart decision support to assist them with optimal charging decisions. Therefore, energy policymakers are interested in advanced pricing schemes that can smooth demand or induce demand that comes as close as possible to a desired profile. We show, through simulations calibrated with real-world data, that current approaches to electricity pricing are limited in their ability to induce desired demand profiles. To address this challenge, we present adaptive pricing, a method to learn from EV owner reactions to prices and adjust announced prices accordingly. Our method draws on the Green Information Systems principles and can assist grid operators in ensuring the reliable operation of the grid. We evaluate our results in simulations, where we find that adaptive pricing outperforms current electricity pricing schemes, yielding results close to the theoretically optimal ones. We test our method in inducing both flat and extremely volatile demand profiles, and we see that in both cases it manages to induce EV charging close to the ideal scenario under perfect information.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Valogianni, Konstantina UNSPECIFIED orcid.org/0000-0001-6419-8675 UNSPECIFIED Ketter, Wolfgang UNSPECIFIED orcid.org/0000-0001-9008-142X UNSPECIFIED Collins, John UNSPECIFIED orcid.org/0000-0002-7881-4595 UNSPECIFIED Zhdanov, Dmitry UNSPECIFIED orcid.org/0000-0002-3349-7581 UNSPECIFIED
URN:	urn:nbn:de:hbz:38-337061
DOI:	10.1111/poms.13179
Journal or Publication Title:	Prod. Oper. Manag.
Volume:	29
Number:	6
Page Range:	S. 1550 - 1573
Date:	2020
Publisher:	WILEY
Place of Publication:	HOBOKEN
ISSN:	1937-5956
Language:	English
Faculty:	Faculty of Management, Economy and Social Sciences
Divisions:	Center of Excellence C-SEB Faculty of Management, Economics and Social Sciences > Business Administration > Information Systems > Chair for Information Systems and Systems Development
Subjects:	Economics
Uncontrolled Keywords:	Keywords Language DEMAND-SIDE MANAGEMENT; INFORMATION-SYSTEMS; OPERATIONS MANAGEMENT; ENERGY-CONSUMPTION; DECISION-MAKING; SMART GRIDS; E-COMMERCE; BIG DATA; LOAD; OPTIMIZATION Multiple languages Engineering, Manufacturing; Operations Research & Management Science Multiple languages
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/33706