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Characterizing flexibility in power markets and systems

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  • Kara, Güray
  • Tomasgard, Asgeir
  • Farahmand, Hossein

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.

Suggested Citation

  • Kara, Güray & Tomasgard, Asgeir & Farahmand, Hossein, 2022. "Characterizing flexibility in power markets and systems," Utilities Policy, Elsevier, vol. 75(C).
    • Handle: RePEc:eee:juipol:v:75:y:2022:i:c:s0957178722000145
    DOI: 10.1016/j.jup.2022.101349
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    3. Lechl, Michael & Fürmann, Tim & de Meer, Hermann & Weidlich, Anke, 2023. "A review of models for energy system flexibility requirements and potentials using the new FLEXBLOX taxonomy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 184(C).

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