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The complexity and the cost of maintaining power system security using only supply-side mechanisms is likely to increase in the future, especially due to the increasing generation from the renewable energy sources. Advances in control and information technology offer a possibility for the demand to participate in the system reserve market. By providing reserve, consumers could maximize their benefits...
Advances in control and information technology in electric grids of the future offer new possibilities in the markets for the consumers. Using their flexible demand, not only can they influence the prices in the energy market but can also participate in the system reserve market. In the paper we present a new approach to the stochastic modeling of the demand-side reserve provision in co-optimized...
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