Valuation and Compensation Mechanism for Flexible Resources in Power System Peak Regulation Markets

Amid increasing renewable energy integration and deepening load volatility, flexible demand-side resources are becoming indispensable for system-level peak regulation. This study develops a comprehensive valuation framework for typical aggregators—electric vehicles, electric heating loads, and distributed storage—quantifying their contributions across peak shaving, valley filling, and response fidelity dimensions. A market-based compensation mechanism is then designed, integrating centralized bidding, uniform clearing, marginal pricing, and a cost allocation principle linked to generator-side benefit attribution. Case studies on a representative regional power system demonstrate that electric vehicle aggregators, owing to their high controllability and cost efficiency, consistently secure superior market outcomes in terms of capacity allocation and economic return. The proposed mechanism enhances dispatch efficiency, aligns incentives, and supports the transition toward a source–load coordinated ancillary service market. The findings provide theoretical underpinnings and policy references for advancing demand-side flexibility integration in high-renewable power systems.