Joint operation of wind power with electric vehicles (EVs) and other energy storage devices is helpful to alleviate the negative effects of wind power integration on power systems. To study the impacts of a virtual power plant (VPP) formed by wind power producer (WPP) and EV aggregator on electricity market equilibrium outcomes

based on oligopolistic game theory

two stochastic multi-period game equilibrium models of electricity market are proposed. One is for the case where a VPP is formed by WPP and EV aggregator and bids in the day-ahead electricity market

the other is for the case where the WPP and EV aggregator bid independently in a non-cooperative mode. In these models

the scenario generation and reduction technique is employed to deal with the uncertainty of wind speed

and a bid error penalty mechanism is taken into consideration. Secondly

the Shapley value method in cooperative game theory is applied to allocate the VPP profits between WPP and EV aggregator. Finally

numerical examples are presented to verify reasonableness and effectiveness of the proposed models. It is shown that the bid error will be lowered and both profits of WPP and EV aggregator will increase when WPP and EV aggregator bid in a VPP mode

which means that WPP and EV aggregator have incentives to voluntarily form a VPP to participate in the electricity market.