State-of-Art on Flexibility Services in Electricity Markets

Variability and uncertainty due to increased renewable penetration and dynamic role of consumers at distribution end pose operational challenges and generation-demand imbalances for power systems. Ultra-fast response and ramping services to cope up with these uncertainty and variability is a need of forthcoming power system. For operational reliability and grid stability, flexibility resources such as rapid responding generation, demand response, storage and interconnections are identified solutions. Moreover, integrating them with existing power system enhance overall operational and planning costs. Appropriate market products can encourage and incentivize flexibility services. To acquire flexibility services for utilization at different time scales, various markets have adopted various practices according to their system conditions. This paper gives an overview of various country practices of flexibility procurement. A comparative study on flexibility services and market products of various international markets has been carried out to widen understanding about system flexibility services and relevant market products.