Distributed energy resources are an ideal candidate for the provision of additional flexibility required by the power system to support the increasing penetration of renewable energy sources. The integrating large number of resources in the existing market structure, particularly in the light of providing flexibility services, is envisioned through the concept of virtual power plant (VPP). To this end, it is crucial to establish a clear methodology for VPP flexibility modelling. In this context, this paper first puts forward the need to clarify the difference between feasibility and flexibility potential of a VPP, and then propose a methodology for the evaluation of relevant operating regions. Similar concepts can also be used to modelling TSO/DSO interface operation. Several case studies are designed to reflect the distinct information conveyed by feasibility and flexibility operating regions in the presence of slow and fast responding resources for a VPP partaking in the provision of energy and grid support services. The results also highlight the impact of flexible load and importantly network topology on the VPP feasibility (FOR) and flexibility (FXOR) operating regions.Index Terms-Active distribution networks, flexibility, frequency control ancillary services, TSO/DSO interface, virtual power plant. arXiv:1906.05472v1 [eess.SY]