Abstract
The present paper summarises the development of a business model for the deployment of flexible resources in the balancing markets in Norway, specifically the manual Frequency Restoration Reserve Capacity Market (mFRR CM) and the manual Frequency Restoration Reserve Energy Activation Market (mFRR EAM). The main findings highlight challenges in the process of aggregating the resources and interaction between the key actors, i.e. Balancing Service Provider (BSP), Balance Responsible Party (BRP) and Transmission System Operator (TSO). Integrating demand response resources into balancing markets holds significant potential. However, it requires that different barriers and shortcomings are addressed. The main novelty of the study is that the results are linked to practical experiences and feedback from actual industrial-size pilots.