(October 2009) In his article “Paradox of Thrift, author James M. Seibert looks to be calculating his average service lives as the reciprocal of depreciation rates, whereas utility...
Letters to the Editor / Corrections, Clarifications
correction issue in endnote 1 of the article. Time error would be used in WOLF to adjust the price. Negative feedback through the WOLF price would lead to the desired time error correction without NERC having to call for a specific correction. This is currently being demonstrated in India, where frequency-based pricing of unscheduled power has significantly reduced the need for time error correction in the Southern Region. And as I have pointed out in several articles, WOLF can be used to price reactive power, the bugaboo cited in many analyses of the Aug. 14, 2003, blackout.
In short, the article "Solving the Crisis in Unscheduled Power" doesn't because it can't.
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