A Computational Monetary Market for Plug-In Electric Vehicle Charging

The penetration of plug-in electric vehicles (PEV) into nearfuture traffic and power infrastructure is expected to be large enough to have a serious impact on the grid. If each PEV arrives at home and charges immediately, the distribution network can incur in serious problems. Therefore, the charging process of the PEVs has to be coordinated, on the basis of the grid capabilities, generation and pricing. In this paper, we put forward a computational monetary market intended as an automatic scheduler for the charging problem. The market is designed so as i) to satisfy the constraints of the distribution network, ii) to guarantee a reasonable level of fairness and allocation efficiency, while at the same time iii) to give the possibility to each PEV to transiently increase its share of the charging capacity of the local distribution network when needed.