In February 2021, winter storm Uri brought extreme cold to Texas for many days. The cold caused a spike in electricity and natural gas demand and simultaneously a sharp drop in supply. The electricity shortage caused 4.5 million Texans to lose power for multiple days. Many lost water service...

A local flexibility market is presented that addresses intrazonal congestion in a zonal electricity market. The market lets system operators access flexibility at multiple voltage levels to satisfy transmission constraints. Market participants offer local flexibility intraday in a continuous...