Characterizing flexibility in power markets and systems

Güray Kara, Asgeir Tomasgard and Hossein Farahmand

Utilities Policy, 2022, vol. 75, issue C

Abstract: The increasing share of variable renewable energy sources creates a need for flexibility resources in the power system operations. This paper presents suggestions for characterizing flexibility, including dimensions of time, spatiality, resource type, and risk in power systems. We present interrelations between these flexibility dimensions, products, services, and suitable market designs. In light of this, we discuss TSO–DSO coordination and optimal flexibility resource allocation.

Keywords: Flexibility characteristics; Power markets; Energy systems (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:juipol:v:75:y:2022:i:c:s0957178722000145

DOI: 10.1016/j.jup.2022.101349

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