Abstract

Abstract

Abstract
In the power system decarbonization roadmap, novel grid management tools and market mechanisms are fundamental to solving technical problems concerning renewable energy forecast uncertainty. This work proposes a predictive algorithm for procurement of grid flexibility by the system operator (SO), which combines the SO flexible assets with active and reactive power short-term flexibility markets. The goal is to reduce the cognitive load of the human operator when analyzing multiple flexibility options and trajectories for the forecasted load/RES and create a human-in-the-loop approach for balancing risk, stakes, and cost. This work also formulates the decision problem into several steps where the operator must decide to book flexibility now or wait for the next forecast update (time-to-decide method), considering that flexibility (availability) price may increase with a lower notification time. Numerical results obtained for a public MV grid (Oberrhein) show that the time-to-decide method improves up to 22% a performance indicator related to a cost-loss matrix, compared to the option of booking the flexibility now at a lower price and without waiting for a forecast update.