Balancing and redispatch: the next stepping stones in European electricity market integration: Improving the market design and the efficiency of the procurement of balancing and redispatch services

Balancing and redispatch are essential services for the security and stability of the electricity network. Balancing refers to continuously maintaining a balance between supply and demand through activating flexible resources. Redispatch refers to changing the dispatch of generators to remedy network congestion. The need for flexibility...