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This paper investigates how a thermostatically controlled load can deliverflexibility either in form of manual frequency restoration reserves (mFRR) orload shifting, and which one is financially more appealing to such a load. Asupermarket freezer is considered as a representative flexible load, and agrey-box model describing its temperature dynamics is developed using real datafrom a supermarket in Denmark. Taking into account price and activationuncertainties, a two-stage stochastic mixed-integer linear program isformulated to maximize the flexibility value from the freezer. For practicalreasons, we propose a linear policy to determine regulating power bids, andthen linearize the mFRR activation conditions through the McCormick relaxationapproach. For computational ease, we develop a decomposition technique,splitting the problem to a set of smaller subproblems, one per scenario.Examined on an out-of-sample simulation based on real Danish spot and balancingmarket prices in 2022, load shifting shows to be more profitable than mFRRprovision, but is also more consequential for temperature deviations in thefreezer.

Load Shifting Versus Manual Frequency Reserve: Which One is More Appealing to Flexible Loads?