Short-Term Reserve Product for Implementation on an Electric Power Grid, and Associated Method

A method for operating an electrical power grid, which includes an electrical power grid, a plurality of power generation participants providing electrical power to the electrical power grid, a plurality of consumers drawing electrical power from the electrical power grid, and a controller that administers the market for the power generation participants and the consumers on the electrical power grid. The method may include providing, by the controller, a short-term reserve (STR) product for the consumers. The STR may be provided by the power generation participants through online resources and offline resources. And the controller may share a ramp capability product (RCP) capacity and a resource capacity.