Bad news from the front lines in the cyber-security war: Little meaningful progress has been made toward safeguarding the nation’s electric grid from malicious attacks. Initial cyber-security...
The Value of Resource Adequacy
Why reserve margins aren’t just about keeping the lights on.
See FERC Notice of Proposed Rulemaking on Planning Resource Adequacy Assessment Reliability Standard, Docket No. RM10-10-000, Oct. 21, 2010 (responding to NERC’s filing of the regional reliability standard BAL-502-RFC-02).
4. See the NERC Generation and Transmission Reliability Planning Models Task Force (GTRPMTF) “Final Report on Methodologies and Metrics - September and December, 2010 with Approvals and Revisions.”
5. Sweeney, James (2002) The California Electricity Crisis, Hoover Institution press, ISBN 978-0817929121, p. 171.
6. Weare, Christopher (2003). The California Electricity Crisis: Causes and Policy Options. San Francisco: Public Policy Institute of California . ISBN 1-58213-064-7, pp. 3-4.
7. SERVM has been used extensively by large utilities in the southeastern U.S. In contrast to several other reliability modeling tools (such as GE-MARS), SERVM allows for the explicit consideration of economic factors such as the cost of emergency purchases, the cost of integrating intermittent or energy-limited resources, the cost of demand side resource dispatch, and the economic and reliability value of tie line capacity to neighboring power systems.
8. 40 weather years x 7 load forecast error points x 400 unit outage iterations = 112,000 simulations.
9. Purchase prices during reliability or emergency events may also include premiums associated with high opportunity costs of energy-limited resources, emergency assistance available from high-dispatch-cost demand-side resources in neighboring systems, or markups related to the exercise of market power by suppliers during scarcity events.