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As the installation of electronically interconnected renewable energy resources grows rapidly in power systems, system frequency maintenance and control become challenging problems to maintain the system reliability in bulk power systems. As two of the most important frequency control actions in the control centers of independent system operators (ISOs) and utilities, the interaction between Economic Dispatch (ED) and Automatic Generation Control (AGC) attracts more and more attention. In this paper, we propose a robust optimization based framework to measure the system flexibility by considering the interaction between two hierarchical processes (i.e., ED and AGC). We propose a cutting plane algorithm with the reformulation technique to obtain seven different indices of the system. In addition, we study the impacts of several system factors (i.e., the budget of operational cost, ramping capability, and …