Liberalised electricity markets often include a capacity remuneration mechanism to allow generation firms recover their fixed costs. Various de-rating factors and/or penalties have been incorporated into such mechanisms in order to award the unit based on the contribution they make to system...

Power systems based on renewable energy sources (RES) are characterised by increasingly distributed, volatile and uncertain supply leading to growing requirements for flexibility. In this paper, we explore the role of demand response (DR) as a source of flexibility that is considered to become...