Aggregator in a microgrid is responsible for its secure and economic operation. As far as system economics is concerned, there are many factors upon which energy cost is dependent, for example peak demand rates and penalties due to violations in energy purchase contracts. Extra charges due to high energy demand and contract violation penalties can be avoided using demand side flexibility. Demand side flexibility has many benefits in normal as well as emergency conditions like less cost and quick response. Residential loads are the major part to be supplied and have 7 days and 24 hour availability for flexible operation. This paper presents the potential for effective use of demand flexibility from residential customers for peak reduction. Demand flexibilities are calculated with Monte Carlo Simulation using probabilistic data of Italian households. Different scenarios are generated to demonstrate the effectiveness of flexibility in residential sector.

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