Abstract: In this speech, the following contents will be covered:
1. Power system security with ever-increasing intermittent renewable generation integration;
2. Exploring Flexible Ramping Products (FRPs) for maintaining power system security in evolving electricity markets.
3. Existing and potential Flexible Ramping Products.
4. FRPs and traditional ancillary services: differences and characteristics.
5. Opportunity cost based pricing for FRPs.
6. Expanding the existing market clearing models to include FRPs.
7. Provision of FRPs by battery energy storage in day-ahead energy and reserve markets.

Biography: Professor Fushuan Wen received the BE and ME degrees from Tianjin University, Tianjin, China, in 1985 and 1988, respectively, and the PhD degree from Zhejiang University, Hangzhou, China, in 1991, all in electrical engineering. He joined the faculty of Zhejiang University in 1991, and has been a full professor and the director of the Institute of Power Economics and Information since 1997, and the director of Zhejiang University-Insigma Joint Research Center for Smart Grids since 2010.

He has been undertaking various teaching, research and visiting appointments in National University of Singapore (NSTB Postdoctoral Fellow, Research Fellow), Hong Kong Polytechnic University (Research Fellow, Visiting Assistant Professor), University of Hong Kong (Research Assistant Professor), South China University of Technology (University Distinguished Professor), University of New South Wales in Australia (ARC Project Senior Fellow, Senior Visiting Fellow), Queensland University of Technology in Australia (CSIRO and ARC Project Visiting Fellow), Brunei University of Technology (Professor in Power Systems), Technical University of Denmark (Otto Monsted Guest Professor in Power Systems), Nanyang Technological University in Singapore (Visiting Fellow), Murdoch University in Australia (Adjunct Professor), Tallinn University of Technology (Professor in Energy Systems), Hangzhou Dianzi University in China (Yusheng XUE Education Foundation Distinguished Professor), Commonwealth Scientific and Industrial Research Organization (CSIRO) in Australia (Honorary Visiting Scientist), Shenzhen Institute of Artificial Intelligence and Robotics for Society (Visiting Principal Research Fellow).

His research interests include: 1) power economics and electricity markets; 2) power system investment, planning and operation optimization; 3) smart grids and electric vehicles; 4) power system alarm processing, fault diagnosis and system restoration; 5) artificial intelligence applications in power and integrated energy systems. He has published 200+ SCI-indexed papers, 650+ EI-indexed papers, and 720+ Scopus-indexed papers. His publications have been cited for 16000+ times. He has completed and is undertaking more than 170 grants and projects from governmental organizations and industry.

Prof Wen received many awards both at the national level and provincial level, including the most prestigious National Natural Science Award of China. He has been listed in "Most Cited Chinese Researchers" in six consecutive years since 2015 by Elsevier, and is the author of one of the China's 100 Most Influential Domestic Academic Papers in 2016.

Prof Wen is the editor-in-chief of Energy Conversion and Economics (IET, Wiley), the deputy editor-in-chief of Journal of Automation of Electric Power Systems, an editor of IEEE Transactions on Power Systems and IEEE Power Engineering Letters, a subject editor in power system economics of IET Generation, Transmission and Distribution, associate editor of Journal of Energy Engineering and Journal of Modern Power Systems and Clean Energy. He is also on the editorial boards of more than 10 journals.

Prof Wen was the General Chairman of 2020 International Conference on Smart Grids and Energy Systems (SGES 2020), Nov. 23-26, 2020, Perth, Australia.

Prof Wen was elected to IEEE Fellow for contributions to fault diagnosis in power grids in November, 2020.