Managing Uncertainty and Flexibility in Day-Ahead Electricity Markets

Research output: NRELPresentation


Net load imbalances from day ahead forecasts can lead to significant grid operations costs and are expected to increase as variable renewable energy adoption grows. We propose a new wholesale market product to manage the risk of net load imbalances called Flexibility Options. This product relies on probabilistic forecasts to estimate flexibility demand and would be co-optimized in the day-ahead market. We also propose stochastic methods that enable DER and flexible load aggregators to participate in flexibility markets while considering the uncertainty in weather and occupant behavior.
Original languageAmerican English
Number of pages19
StatePublished - 2023

Publication series

NamePresented at the Meteorology and Market Design for Grid Services Workshop, 13-15 June 2023, Denver, Colorado

NREL Publication Number

  • NREL/PR-6A40-86693


  • day-ahead market
  • DER aggregation
  • flexibility options
  • flexible loads
  • probabilistic forecasts


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