@misc{14f6fe955b9047daae055dd00a6b5684,
title = "Flexibility Options: A Proposed ISO Product for Managing Energy Imbalance Risk",
abstract = "As the electricity generated by variable resources grows, system operators and variable resources have to manage challenging imbalances between forward and real-time markets. The Flexibility Auction is a novel approach for managing imbalances as it will allow resources with imbalance risk to hedge their production by buying flexibility options. The flexibility options are offered by grid-connected resources that can provide physical flexibility. This presentation provides an overview of the participants in the auction, the definition of flexibility options, and settlements.",
keywords = "electricity markets, flexibility, imbalance, power system operations, risk",
author = "Evangelia Spyrou and Robin Hytowitz and Ben Hobbs and Mohamed Al-Ashery and Mengmeng Cai and Siddharth Tyagi",
year = "2021",
language = "American English",
series = "Presented at the 2021 IEEE Power & Energy Society General Meeting, 26-29 July 2021",
type = "Other",
}