@misc{e59e44ca031a45cdbd6796b2865f9625,
title = "Managing Uncertainty and Flexibility in Day-Ahead Electricity Markets",
abstract = "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.",
keywords = "day-ahead market, DER aggregation, flexibility options, flexible loads, PERFORM, probabilistic forecasts",
author = "Michael Blonsky",
year = "2023",
language = "American English",
series = "Presented at the Meteorology and Market Design for Grid Services Workshop, 13-15 June 2023, Denver, Colorado",
type = "Other",
}
