Thanks to their rapid and highly controllable power response, electrochemical battery storage systems, including those for Electric Vehicles (EV), could usefully contribute to the provision of ancillary services, thus improving the flexibility of the electricity system. This work simulates the offer of balancing services by EVs on the Italian Balancing Market, to investigate the possible profitability of such services for EV owners. More precisely, for a domestic and non-domestic end user, with different charging needs, we evaluate the EV bill and the provision of the service—unidirectional (V1G) or bidirectional (V2G)—during charging and compare it with the bill relating to the execution of a standard recharge (benchmark) for which it is assumed that the energy is purchased at Day Ahead Market prices. We perform a sensitivity analysis of the results, adopting different (even if constant) prices to offer for the service. With V2G charging, the increased energy exchanges, compared to V1G and ‘benchmark’ charging, can lead to higher bills, due to the charges and taxes on such exchanges. However, for both V1G and V2G charging, there are price regions for which the service can be considered profitable, in the sense that the bill is lower than or equal to the benchmark bill. If partial exemptions from the payment of charges on the bill and/or an additional remuneration in capacity are introduced, the profitable price regions widen and the maximum savings compared to the benchmark bill increase.