  With an increasing share of volatile renewables, more flexibility is needed
to balance the electricity system. In order to enable local flexibility, we
suggest a three-stage stochastic market clearing model using community-based
peer-to-peer (P2P) trading with participation in the short term reserve
markets. With this approach, internal intraday (IID) and real-time (IRT)
markets are cleared where peers can trade to balance their day-ahead market
position under uncertainty in load and activation of reserves. Results show
increased participation of 19 and 44 % in reserve markets when P2P IID and IRT
is introduced. We illustrate the application of the model and give advice for
the future reserve market design highlighting necessary changes in order to
unlock end-user flexibility to the reserve market.
