Optimum retailer operation considering parking lots participation in electricity market

Concern about environmental issues and increasing fossil fuel prices are the main drivers of moving toward electric transportation. Electric vehicles are the main components of smart grid that enables active participation of all market players and helps to more competitive market. Retailer, as a market player, should predict the customer demands and spot price of wholesale market in different time intervals and supply customer loads in order to maximise its profit. This paper has assumed that retailer could purchase electricity from both wholesale market and parking lots according to agreement contract prices in order to get maximum profit. Finally, the amount of power that retailer would purchase from wholesale market and parking lots during each hour is determined.