- Chlor-alkali electrolysis indicates significant demand response potential, accounting for over 2% of Germany’s total electricity demand. To fully analyze this potential, digital models or digital twins are necessary. In this study, we use the IRPopt modeling framework to develop a digital model of an electrolysis process and examine the cost-optimal load shifting application in the day-ahead spot and balancing reserve market for various price scenarios (2019, 2030, 2040). We also investigate the associated CO 2 emissions. Combined optimization at both markets results in greater and more robust cost savings of 16.1% but cannibalizes the savings that are possible through optimization separately at each market. In future scenarios, the shares of savings from spot and reserve market could potentially reverse. CO 2 savings between 2.5% and 9.2% appear only through optimization at the spot market and could even turn negative if optimized solely at the reserve market.