Demand response trading in the British balancing mechanism - a probabilistic model to estimate feasibility for asset owners

Recent reforms to the energy markets of Great Britain (GB) have aspired to reduce barriers for smaller assets to participate in grid services via a variety of routes. In this paper, we study the participation of a small asset owner in the British Balancing Mechanism (BM) with demand response capabilities. The study takes the point of view of the asset owner, not the operator or wholesale trader.