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Value of demand flexibility on spot and reserve electricity markets in future power system with increased shares of variable renewable energy

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  • Roos, Aleksandra
  • Bolkesjø, Torjus Folsland

Abstract

The growing share of variable renewable energy (VRE) generation and the reduction in conventional power plant capacity creates challenges for power system operation. Increased variability of production causes increased reserve requirements while the number of reserve providers is reduced. For this reasons, power systems' flexibility is a major topic of research nowadays, and electricity demand is considered one of the most valuable flexibility sources.

Suggested Citation

  • Roos, Aleksandra & Bolkesjø, Torjus Folsland, 2018. "Value of demand flexibility on spot and reserve electricity markets in future power system with increased shares of variable renewable energy," Energy, Elsevier, vol. 144(C), pages 207-217.
    • Handle: RePEc:eee:energy:v:144:y:2018:i:c:p:207-217
    DOI: 10.1016/j.energy.2017.11.146
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    References listed on IDEAS

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    13. Wanapinit, Natapon & Thomsen, Jessica & Weidlich, Anke, 2022. "Integrating flexibility provision into operation planning: A generic framework to assess potentials and bid prices of end-users," Energy, Elsevier, vol. 261(PB).
    14. Priyanka Majumder & Mrinmoy Majumder & Apu Kumar Saha, 2020. "Real-time monitoring of power production in modular hydropower plant: most significant parameter approach," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 22(5), pages 4025-4042, June.
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