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Transportation electrification plays an important role in developing more sustainable systems. As a result, the adoption of electric vehicles (EVs) is increasingly endorsed by governmental policies. It can be even more encouraged by promoting the provision of different ancillary services using vehicle-to-grid (V2G) enabled EVs, since EV owners may obtain additional profit by market participation. This paper presents an assessment of the economic benefits of using EVs to participate in the primary frequency regulation markets from the EV owner perspective. A heuristic method is proposed to optimize the power bid that maximizes the EV owners’ revenue along with a set of operational strategies that facilitates the service provision, which is evaluated using a simulation-based approach. A comparison analysis is performed to individually demonstrate the economic potential that four EVs with different battery capacities …