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Electricity market designs must evolve to incorporate efficiently the large-scale penetration of renewable energy sources and demand side participation. Current renewable energy support schemes and fixed tariff systems fail to address two major power system operation issues and therefore create additional system costs. First, unlike other commodity markets, the provision of reserve capacity is required...
Power systems have traditionally been designed to provide flexibility in a context where demand is met by bulk generation. The integration of variable and uncertain renewable generation sources, such as wind, increases the flexibility needed to maintain the load-generation balance. This paper aims to provide a systematic approach to evaluate the flexibility level and investigate the role of flexibility...
Power systems have traditionally been designed to provide flexibility in a context where demand is met by bulk generation. The integration of variable and uncertain renewable generation sources, such as wind, increases the flexibility needed to maintain the load-generation balance. This paper aims to provide a systematic approach to evaluate the flexibility level and investigate the role of flexibility...
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