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As the "smart grid" paradigm becomes more prevalent, fundamentaltechno-economic challenges prominently arise. The variability of renewables mayrequire conventional generators to remain active and operate inefficiently. Thegrid's inertia grows weaker, jeopardizing its stability. Network-relatedproblems become more prevalent, threatening the grid's security. Finally, theindustry experiences price cannibalization to extensive degrees, with frequentnegative prices and with renewable energy producers downregulating theirproduction in order to avoid severe penalties. To this day, no previous workhas provided a holistic analysis on how each energy asset could contribute togrid management within the power market setting. This paper attempts to fillthis knowledge gap by investigating the "flexicurity" potential of energyassets, in the context of smart grids and the so-called "2050 strategy". Morelight is cast on their true value, thus better guiding network operators andmarket players. To the above, we categorize all flexibility and securitycapabilities of each energy asset, qualitatively grade their "performance". Wesecondly introduce the concept of "flexicurity" and discuss a gradual shifttowards an alternative flexicurity-based market operation. Considering desiredstate of the European power grid by 2050, we finally provide aflexicurity-based overview of possible asset integration routes.

Flexicurity: Unlocking the True Potential of Power Market Players in the European Smart Grid Era (White paper)