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The European policy focus on smart grids implies their development as an indispensable part of the future power system. However, the definition of a smart grid is broad and vague, and the actual implementation of a smart grid can differ significantly depending on the stakeholders involved. Smart electricity grids can be defined as electricity networks that can intelligently integrate the behaviour and actions of all end users connected to them – generators, consumers and those that are both – in order to efficiently ensure a sustainable, economic and secure electricity supply. This integration of behaviour is achieved through a two-way information and power exchange between suppliers and consumers using information technology

Towards the design of flexibility management in smart grids: A techno-institutional perspective