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Local flexibility markets: Literature review on concepts, models and clearing methods

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  1. Karim L. Anaya & Michael G. Pollitt, 2021. "How to Procure Flexibility Services within the Electricity Distribution System: Lessons from an International Review of Innovation Projects," Energies, MDPI, vol. 14(15), pages 1-26, July.
  2. Mello, J. & Villar, J., 2023. "Integrating flexibility and energy local markets with wholesale balancing responsibilities in the context of renewable energy communities," Energy, Elsevier, vol. 282(C).
  3. Denis Juma & Josiah Munda & Charles Kabiri, 2023. "Power-System Flexibility: A Necessary Complement to Variable Renewable Energy Optimal Capacity Configuration," Energies, MDPI, vol. 16(21), pages 1-24, November.
  4. Alonso Pedrero, Raquel & Crespo del Granado, Pedro, 2023. "Assessing the impact of energy communities on retailers’ balancing positions in the power market," Energy, Elsevier, vol. 283(C).
  5. Huang, Chunyi & Zhang, Mingzhi & Wang, Chengmin & Xie, Ning & Yuan, Zhao, 2022. "An interactive two-stage retail electricity market for microgrids with peer-to-peer flexibility trading," Applied Energy, Elsevier, vol. 320(C).
  6. Aikaterini Forouli & Emmanouil A. Bakirtzis & Georgios Papazoglou & Konstantinos Oureilidis & Vasileios Gkountis & Luisa Candido & Eloi Delgado Ferrer & Pandelis Biskas, 2021. "Assessment of Demand Side Flexibility in European Electricity Markets: A Country Level Review," Energies, MDPI, vol. 14(8), pages 1-23, April.
  7. Asuamah Yeboah, Samuel, 2024. "Winning Strategies for Launching a Successful Business in Developing Markets," MPRA Paper 122661, University Library of Munich, Germany, revised 18 Oct 2024.
  8. Dynge, Marthe Fogstad & Crespo del Granado, Pedro & Hashemipour, Naser & Korpås, Magnus, 2021. "Impact of local electricity markets and peer-to-peer trading on low-voltage grid operations," Applied Energy, Elsevier, vol. 301(C).
  9. Benedikt Finnah, 2022. "Optimal bidding functions for renewable energies in sequential electricity markets," OR Spectrum: Quantitative Approaches in Management, Springer;Gesellschaft für Operations Research e.V., vol. 44(1), pages 1-27, March.
  10. Andreas Zeiselmair & Simon Köppl, 2021. "Constrained Optimization as the Allocation Method in Local Flexibility Markets," Energies, MDPI, vol. 14(13), pages 1-21, June.
  11. Alonso Pedrero, Raquel & Pisciella, Paolo & Crespo del Granado, Pedro, 2024. "Fair investment strategies in large energy communities: A scalable Shapley value approach," Energy, Elsevier, vol. 295(C).
  12. Sevdari, Kristian & Calearo, Lisa & Andersen, Peter Bach & Marinelli, Mattia, 2022. "Ancillary services and electric vehicles: An overview from charging clusters and chargers technology perspectives," Renewable and Sustainable Energy Reviews, Elsevier, vol. 167(C).
  13. Stig Ødegaard Ottesen & Martin Haug & Heidi S. Nygård, 2020. "A Framework for Offering Short-Term Demand-Side Flexibility to a Flexibility Marketplace," Energies, MDPI, vol. 13(14), pages 1-17, July.
  14. Doumen, Sjoerd C. & Nguyen, Phuong & Kok, Koen, 2022. "Challenges for large-scale Local Electricity Market implementation reviewed from the stakeholder perspective," Renewable and Sustainable Energy Reviews, Elsevier, vol. 165(C).
  15. Matthew Gough & Sérgio F. Santos & Mohammed Javadi & Rui Castro & João P. S. Catalão, 2020. "Prosumer Flexibility: A Comprehensive State-of-the-Art Review and Scientometric Analysis," Energies, MDPI, vol. 13(11), pages 1-32, May.
  16. Radpour, S. & Gemechu, E. & Ahiduzzaman, Md & Kumar, A., 2021. "Developing a framework to assess the long-term adoption of renewable energy technologies in the electric power sector: The effects of carbon price and economic incentives," Renewable and Sustainable Energy Reviews, Elsevier, vol. 152(C).
  17. Nizami, Sohrab & Tushar, Wayes & Hossain, M.J. & Yuen, Chau & Saha, Tapan & Poor, H. Vincent, 2022. "Transactive energy for low voltage residential networks: A review," Applied Energy, Elsevier, vol. 323(C).
  18. Xiong, Chang & Su, Yixin & Wang, Hao & Dong, Zhengcheng & Tian, Meng & Shi, Binghua, 2024. "Consensus-based decentralized scheduling method for collaborative operation in seaport virtual power plant," Applied Energy, Elsevier, vol. 373(C).
  19. Samuel Borroy Vicente & Gregorio Fernández & Noemi Galan & Andrés Llombart Estopiñán & Matteo Salani & Marco Derboni & Vincenzo Giuffrida & Luis Hernández-Callejo, 2024. "Assessment of the Technical Impacts of Electric Vehicle Penetration in Distribution Networks: A Focus on System Management Strategies Integrating Sustainable Local Energy Communities," Sustainability, MDPI, vol. 16(15), pages 1-21, July.
  20. Heilmann, Erik, 2023. "The impact of transparency policies on local flexibility markets in electric distribution networks," Utilities Policy, Elsevier, vol. 83(C).
  21. Carlo Schmitt & Felix Gaumnitz & Andreas Blank & Olivier Rebenaque & Théo Dronne & Arnault Martin & Philippe Vassilopoulos & Albert Moser & Fabien Roques, 2021. "Framework for Deterministic Assessment of Risk-Averse Participation in Local Flexibility Markets †," Energies, MDPI, vol. 14(11), pages 1-34, May.
  22. Zhou, Huan & Fan, Shuai & Wu, Qing & Dong, Lianxin & Li, Zuyi & He, Guangyu, 2021. "Stimulus-response control strategy based on autonomous decentralized system theory for exploitation of flexibility by virtual power plant," Applied Energy, Elsevier, vol. 285(C).
  23. Heilmann, Erik & Klempp, Nikolai & Wetzel, Heike, 2020. "Design of regional flexibility markets for electricity: A product classification framework for and application to German pilot projects," Utilities Policy, Elsevier, vol. 67(C).
  24. Eichenberg, Jannis & Hobbie, Hannes & Schug, Tizian, 2024. "Designing Incentive Mechanisms for Grid-Serving Demand-Side Behavior in Transmission Grids: Exploring Market Equilibria through Bi-Level Programming," EconStor Preprints 302046, ZBW - Leibniz Information Centre for Economics.
  25. López, Iraide & Goitia-Zabaleta, Nerea & Milo, Aitor & Gómez-Cornejo, Julen & Aranzabal, Itxaso & Gaztañaga, Haizea & Fernandez, Elvira, 2024. "European energy communities: Characteristics, trends, business models and legal framework," Renewable and Sustainable Energy Reviews, Elsevier, vol. 197(C).
  26. Hennig, Roman J. & de Vries, Laurens J. & Tindemans, Simon H., 2023. "Congestion management in electricity distribution networks: Smart tariffs, local markets and direct control," Utilities Policy, Elsevier, vol. 85(C).
  27. Kong, Xiangyu & Lu, Wenqi & Wu, Jianzhong & Wang, Chengshan & Zhao, Xv & Hu, Wei & Shen, Yu, 2023. "Real-time pricing method for VPP demand response based on PER-DDPG algorithm," Energy, Elsevier, vol. 271(C).
  28. Schmitt, Carlo & Schumann, Klemens & Kollenda, Katharina & Blank, Andreas & Rebenaque, Olivier & Dronne, Théo & Martin, Arnault & Vassilopoulos, Philippe & Roques, Fabien & Moser, Albert, 2022. "How will local energy markets influence the pan-European day-ahead market and transmission systems? A case study for local markets in France and Germany," Applied Energy, Elsevier, vol. 325(C).
  29. Jia, Hongjie & Wang, Xiaoyu & Jin, Xiaolong & Cheng, Lin & Mu, Yunfei & Yu, Xiaodan & Wei, Wei, 2024. "Optimal pricing of integrated community energy system for building prosumers with P2P multi-energy trading," Applied Energy, Elsevier, vol. 365(C).
  30. Younes Zahraoui & Tarmo Korõtko & Argo Rosin & Hannes Agabus, 2023. "Market Mechanisms and Trading in Microgrid Local Electricity Markets: A Comprehensive Review," Energies, MDPI, vol. 16(5), pages 1-52, February.
  31. Giacomo Viganò & Giorgia Lattanzio & Marco Rossi, 2024. "Review of Main Projects, Characteristics and Challenges in Flexibility Markets for Services Addressed to Electricity Distribution Network," Energies, MDPI, vol. 17(11), pages 1-24, June.
  32. Yu, Liying & Wang, Peng & Chen, Zhe & Li, Dewen & Li, Ning & Cherkaoui, Rachid, 2023. "Finding Nash equilibrium based on reinforcement learning for bidding strategy and distributed algorithm for ISO in imperfect electricity market," Applied Energy, Elsevier, vol. 350(C).
  33. Goitia-Zabaleta, Nerea & Milo, Aitor & Gaztañaga, Haizea & Fernandez, Elvira, 2023. "Two-stage centralised management of Local Energy Market for prosumers integration in a community-based P2P," Applied Energy, Elsevier, vol. 348(C).
  34. Kara, Güray & Pisciella, Paolo & Tomasgard, Asgeir & Farahmand, Hossein & Crespo del Granado, Pedro, 2022. "Stochastic local flexibility market design, bidding, and dispatch for distribution grid operations," Energy, Elsevier, vol. 253(C).
  35. Gržanić, Mirna & Capuder, Tomislav, 2023. "Collaboration model between Distribution System Operator and flexible prosumers based on a unique dynamic price for electricity and flexibility," Applied Energy, Elsevier, vol. 350(C).
  36. Erik Heilmann, 2021. "The impact of transparency policies on local flexibility markets in electrical distribution networks: A case study with artificial neural network forecasts," MAGKS Papers on Economics 202141, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  37. Ehsan Khorsandnejad & Robert Malzahn & Ann-Katrin Oldenburg & Annedore Mittreiter & Christian Doetsch, 2023. "Analysis of Flexibility Potential of a Cold Warehouse with Different Refrigeration Compressors," Energies, MDPI, vol. 17(1), pages 1-22, December.
  38. Serra, Daniele & Mardero, Daniele & Di Stefano, Luca & Grillo, Samuele, 2021. "Post-metering value-added services for low voltage electricity users: Lessons learned from the Italian experience of CHAIN 2," Applied Energy, Elsevier, vol. 304(C).
  39. Mansouri, Seyed Amir & Nematbakhsh, Emad & Jordehi, Ahmad Rezaee & Marzband, Mousa & Tostado-Véliz, Marcos & Jurado, Francisco, 2023. "An interval-based nested optimization framework for deriving flexibility from smart buildings and electric vehicle fleets in the TSO-DSO coordination," Applied Energy, Elsevier, vol. 341(C).
  40. Zhang, Weiqi & Zavala, Victor M., 2022. "Remunerating space–time, load-shifting flexibility from data centers in electricity markets," Applied Energy, Elsevier, vol. 326(C).
  41. Piao, Longjian & de Vries, Laurens & de Weerdt, Mathijs & Yorke-Smith, Neil, 2021. "Electricity markets for DC distribution systems: Locational pricing trumps wholesale pricing," Energy, Elsevier, vol. 214(C).
  42. Heffron, Raphael & Körner, Marc-Fabian & Wagner, Jonathan & Weibelzahl, Martin & Fridgen, Gilbert, 2020. "Industrial demand-side flexibility: A key element of a just energy transition and industrial development," Applied Energy, Elsevier, vol. 269(C).
  43. Potenciano Menci, Sergio & Valarezo, Orlando, 2024. "Decoding design characteristics of local flexibility markets for congestion management with a multi-layered taxonomy," Applied Energy, Elsevier, vol. 357(C).
  44. Wang, Zibo & Yu, Xiaodan & Mu, Yunfei & Jia, Hongjie & Jiang, Qian & Wang, Xiaoyu, 2021. "Peer-to-Peer energy trading strategy for energy balance service provider (EBSP) considering market elasticity in community microgrid," Applied Energy, Elsevier, vol. 303(C).
  45. Silva-Rodriguez, Lina & Sanjab, Anibal & Fumagalli, Elena & Virag, Ana & Gibescu, Madeleine, 2022. "Short term wholesale electricity market designs: A review of identified challenges and promising solutions," Renewable and Sustainable Energy Reviews, Elsevier, vol. 160(C).
  46. Felipe Gonzalez & Marc Petit & Yannick Perez, 2021. "Participation of electric vehicle fleets in local flexibility tenders: Analyzing barriers to entry and workable solutions," Working Papers hal-03420072, HAL.
  47. Hanny, Lisa & Wagner, Jonathan & Buhl, Hans Ulrich & Heffron, Raphael & Körner, Marc-Fabian & Schöpf, Michael & Weibelzahl, Martin, 2022. "On the progress in flexibility and grid charges in light of the energy transition: The case of Germany," Energy Policy, Elsevier, vol. 165(C).
  48. Olivier Rebenaque & Carlo Schmitt & Klemens Schumann, 2022. "Trading in local markets: A review of concepts and challenges," ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, FrancoAngeli Editore, vol. 2022(2), pages 25-47.
  49. Kühnbach, Matthias & Bekk, Anke & Weidlich, Anke, 2022. "Towards improved prosumer participation: Electricity trading in local markets," Energy, Elsevier, vol. 239(PE).
  50. Zhou, Chenghan & Jia, Hongjie & Jin, Xiaolong & Mu, Yunfei & Yu, Xiaodan & Xu, Xiandong & Li, Binghui & Sun, Weichen, 2023. "Two-stage robust optimization for space heating loads of buildings in integrated community energy systems," Applied Energy, Elsevier, vol. 331(C).
  51. Sheybanivaziri, Samaneh & Le Dréau, Jérôme & Kazmi, Hussain, 2024. "Forecasting price spikes in day-ahead electricity markets: techniques, challenges, and the road ahead," Discussion Papers 2024/1, Norwegian School of Economics, Department of Business and Management Science.
  52. Erik Heilmann & Nikolai Klempp & Kai Hufendiek & Heike Wetzel, 2022. "Long-term Contracts for Network-supportive Flexibility in Local Flexibility Markets," MAGKS Papers on Economics 202224, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  53. Lina Silva-Rodriguez & Anibal Sanjab & Elena Fumagalli & Ana Virag & Madeleine Gibescu, 2020. "Short Term Electricity Market Designs: Identified Challenges and Promising Solutions," Papers 2011.04587, arXiv.org.
  54. Liao, Wei & Xiao, Fu & Li, Yanxue & Zhang, Hanbei & Peng, Jinqing, 2024. "A comparative study of demand-side energy management strategies for building integrated photovoltaics-battery and electric vehicles (EVs) in diversified building communities," Applied Energy, Elsevier, vol. 361(C).
  55. Zhengjie You & Michel Zade & Babu Kumaran Nalini & Peter Tzscheutschler, 2021. "Flexibility Estimation of Residential Heat Pumps under Heat Demand Uncertainty," Energies, MDPI, vol. 14(18), pages 1-19, September.
  56. Domagoj Badanjak & Hrvoje Pandžić, 2021. "Distribution-Level Flexibility Markets—A Review of Trends, Research Projects, Key Stakeholders and Open Questions," Energies, MDPI, vol. 14(20), pages 1-26, October.
  57. Gazafroudi, Amin Shokri & Khorasany, Mohsen & Razzaghi, Reza & Laaksonen, Hannu & Shafie-khah, Miadreza, 2021. "Hierarchical approach for coordinating energy and flexibility trading in local energy markets," Applied Energy, Elsevier, vol. 302(C).
  58. Wang, Zibo & Dong, Lei & Shi, Mengjie & Qiao, Ji & Jia, Hongjie & Mu, Yunfei & Pu, Tianjiao, 2023. "Market power modeling and restraint of aggregated prosumers in peer-to-peer energy trading: A game-theoretic approach," Applied Energy, Elsevier, vol. 348(C).
  59. Li, Gaojunjie & Yang, Jun & Hu, Zhijian & Zhu, Xu & Xu, Jian & Sun, Yuanzhang & Zhan, Xiangpeng & Wu, Fuzhang, 2023. "A novel price-driven energy sharing mechanism for charging station operators," Energy Economics, Elsevier, vol. 118(C).
  60. Niels Govaerts & Kenneth Bruninx & Hélène Le Cadre & Leonardo Meeus & Erik Delarue, 2021. "Forward-looking distribution network charges considering lumpy investments," Journal of Regulatory Economics, Springer, vol. 59(3), pages 280-302, June.
  61. Azim, M. Imran & Tushar, Wayes & Saha, Tapan K. & Yuen, Chau & Smith, David, 2022. "Peer-to-peer kilowatt and negawatt trading: A review of challenges and recent advances in distribution networks," Renewable and Sustainable Energy Reviews, Elsevier, vol. 169(C).
  62. Fernando García-Muñoz & Mariana Jiménez-Martínez & Josh Eichman & Cristina Corchero & Gabriela Benveniste, 2024. "Exploring the Viability of Local Electricity Markets for Managing Congestion in Spanish Distribution Networks," Energies, MDPI, vol. 17(3), pages 1-18, January.
  63. Guray Kara & Asgeir Tomasgard & Hossein Farahmand, 2021. "Characterization of flexible electricity in power and energy markets," Papers 2109.03000, arXiv.org.
  64. Ajla Mehinovic & Matej Zajc & Nermin Suljanovic, 2023. "Interpretation and Quantification of the Flexibility Sources Location on the Flexibility Service in the Distribution Grid," Energies, MDPI, vol. 16(2), pages 1-18, January.
  65. Hashemipour, Naser & Crespo del Granado, Pedro & Aghaei, Jamshid, 2021. "Dynamic allocation of peer-to-peer clusters in virtual local electricity markets: A marketplace for EV flexibility," Energy, Elsevier, vol. 236(C).
  66. Vijay, Rohit & Mathuria, Parul, 2024. "Common TSO-DSO market framework with no upfront priority to utilize DER flexibility," Energy, Elsevier, vol. 299(C).
  67. Georgios Papazoglou & Pandelis Biskas, 2022. "Review of Methodologies for the Assessment of Feasible Operating Regions at the TSO–DSO Interface," Energies, MDPI, vol. 15(14), pages 1-24, July.
  68. Wang, Xiaoyu & Jia, Hongjie & Jin, Xiaolong & Mu, Yunfei & Wei, Wei & Yu, Xiaodan & Liang, Shuo, 2024. "Bi-level optimal operations for grid operator and low-carbon building prosumers with peer-to-peer energy sharing," Applied Energy, Elsevier, vol. 359(C).
  69. Tsaousoglou, Georgios & Giraldo, Juan S. & Paterakis, Nikolaos G., 2022. "Market Mechanisms for Local Electricity Markets: A review of models, solution concepts and algorithmic techniques," Renewable and Sustainable Energy Reviews, Elsevier, vol. 156(C).
  70. Lago, Jesus & Poplavskaya, Ksenia & Suryanarayana, Gowri & De Schutter, Bart, 2021. "A market framework for grid balancing support through imbalances trading," Renewable and Sustainable Energy Reviews, Elsevier, vol. 137(C).
  71. Voswinkel, Simon & Höckner, Jonas & Khalid, Abuzar & Weber, Christoph, 2022. "Sharing congestion management costs among system operators using the Shapley value," Applied Energy, Elsevier, vol. 317(C).
  72. Luca Migliari & Davide Micheletto & Daniele Cocco, 2023. "Performance Analysis of a Diabatic Compressed Air Energy Storage System Fueled with Green Hydrogen," Energies, MDPI, vol. 16(20), pages 1-17, October.
  73. Jahns, Christopher & Stein, Tobias & Höckner, Jonas & Weber, Christoph, 2023. "Prevention of strategic behaviour in local flexibility markets using market monitoring – Concept, application example and limitations," Energy Policy, Elsevier, vol. 174(C).
  74. Gržanić, M. & Capuder, T. & Zhang, N. & Huang, W., 2022. "Prosumers as active market participants: A systematic review of evolution of opportunities, models and challenges," Renewable and Sustainable Energy Reviews, Elsevier, vol. 154(C).
  75. Lin, Wei & Jin, Xiaolong & Jia, Hongjie & Mu, Yunfei & Xu, Tao & Xu, Xiandong & Yu, Xiaodan, 2021. "Decentralized optimal scheduling for integrated community energy system via consensus-based alternating direction method of multipliers," Applied Energy, Elsevier, vol. 302(C).
  76. Ali Darudi & Hannes Weigt, 2024. "Review and Assessment of Decarbonized Future Electricity Markets," Energies, MDPI, vol. 17(18), pages 1-38, September.
  77. Capper, Timothy & Gorbatcheva, Anna & Mustafa, Mustafa A. & Bahloul, Mohamed & Schwidtal, Jan Marc & Chitchyan, Ruzanna & Andoni, Merlinda & Robu, Valentin & Montakhabi, Mehdi & Scott, Ian J. & Franci, 2022. "Peer-to-peer, community self-consumption, and transactive energy: A systematic literature review of local energy market models," Renewable and Sustainable Energy Reviews, Elsevier, vol. 162(C).
  78. Kara, Güray & Tomasgard, Asgeir & Farahmand, Hossein, 2022. "Characterizing flexibility in power markets and systems," Utilities Policy, Elsevier, vol. 75(C).
  79. Zhang, Bidan & He, Guannan & Du, Yang & Wen, Haoran & Huan, Xintao & Xing, Bowen & Huang, Jingsi, 2024. "Assessment of the economic impact of forecasting errors in Peer-to-Peer energy trading," Applied Energy, Elsevier, vol. 374(C).
  80. 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).
  81. Mohseni, Soheil & Brent, Alan C. & Kelly, Scott & Browne, Will N. & Burmester, Daniel, 2021. "Strategic design optimisation of multi-energy-storage-technology micro-grids considering a two-stage game-theoretic market for demand response aggregation," Applied Energy, Elsevier, vol. 287(C).
  82. Orlando Valarezo & Tomás Gómez & José Pablo Chaves-Avila & Leandro Lind & Mauricio Correa & David Ulrich Ziegler & Rodrigo Escobar, 2021. "Analysis of New Flexibility Market Models in Europe," Energies, MDPI, vol. 14(12), pages 1-24, June.
  83. Nayeem Rahman & Rodrigo Rabetino & Arto Rajala & Jukka Partanen, 2021. "Ushering in a New Dawn: Demand-Side Local Flexibility Platform Governance and Design in the Finnish Energy Markets," Energies, MDPI, vol. 14(15), pages 1-23, July.
  84. Bellenbaum, Julia & Höckner, Jonas & Weber, Christoph, 2022. "Designing flexibility procurement markets for congestion management – investigating two-stage procurement auctions," Energy Economics, Elsevier, vol. 106(C).
  85. Babagheibi, Mahsa & Jadid, Shahram & Kazemi, Ahad, 2023. "An Incentive-based robust flexibility market for congestion management of an active distribution system to use the free capacity of Microgrids," Applied Energy, Elsevier, vol. 336(C).
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