Dynamic Pricing at Electric Vehicle Charging Stations for Queueing Delay Reduction

The research of electric vehicles (EVs) has gained more and more attention in recent years in both industry and academia, and new registrations of EVs increase rapidly, while the long delay at the convenient but crowded charging stations may discourage many drivers from switching to EVs. To address the problems, we propose a novel dynamic pricing policy that allows charging stations to adjust their service fees in real time based on the load at the stations. In our work, the selection of drivers is modeled by a new dissatisfaction function with multiple variables, which can be easily validated and improved by real applications, and our solution is evaluated from the real-world e-charge dataset. To the best of our knowledge, this is the first work that considers dynamic service fees among various charging stations for load balancing and reduction of queueing delay. This makes our work more realistic and beneficial.