  The energetic flexibility of electric energy resources can be exploited when
trading on wholesale energy and ancillary service markets. This paper considers
the problem of a Balance Responsible Party to maximize its profit from trading
on energy markets while simultaneously offering Secondary Frequency Reserves to
the System Operator. However, the accurate provision of regulation power can be
compromised by power ramp-rate limitations of the resources providing the
service. To avoid this shortcoming, we take power ramp-rate constraints into
account explicitly when computing optimal adjustable energy trading policies
that are robust against uncertain activation of reserves. The approach proposed
is applicable in real market settings because it models all the different
timescales of the day-ahead, intra-day, and reserve markets. Finally, the
effect of different market settings and energy trading policies on the amount
of available Secondary Frequency Reserves is investigated.
