Characterizing flexibility in power markets and systems
Peer reviewed, Journal article
Published version
Date
2022Metadata
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Original version
10.1016/j.jup.2022.101349Abstract
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. Characterizing flexibility in power markets and systems