PHEV Charging Strategy With Asymmetric Information Based On Contract Design1

As the development of plugin hybrid electric vehicles (PHEV), this kind of hybrid vehicles have great potential in increasing the efficiency of energy and reducing carbon emission. The plug-in-feature not only means charging quickly and conveniently, but also brings power grid a great challenge in dynamic stability. Considering the information asymmetric characteristic in electricity market, we propose a contract based charging strategy with profit maximization of power sector as the object while guaranteeing the PHEV users' non-negative utility. We prove the result of the strategy via simulations based on meticulous modeling of PHEV.