Balancing market
Also known as: Balancing Mechanism
The real-time market where the TSO dispatches generation and storage up or down to balance the system minute by minute. Also called the balancing mechanism in some markets (e.g. GB).
In energy storage
BESS participates in the balancing market by offering upward regulation (discharge) and downward regulation (charge) capacity to the TSO. Settlement is typically pay-as-bid or marginal pricing depending on the market, and the asset must respond within the activation time specified by the TSO — often under 15 minutes for manual reserves and under 30 seconds for automatic reserves.
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