Resource Adequacy
Resource adequacy is the ability of electric grid operators to supply enough electricity at the right locations, using current capacity and reserves, to meet demand. It is expressed as the probability of an outage due to insufficient capacity.
ERCOT and the Texas PUC say there is not enough dispatchable generation to meet peak demand this summer, forcing the grid to rely on renewables.
A Brattle Group study finds virtual power plants are cheaper than other viable options for resource adequacy, namely storage and natural gas peaking plants.
SPP members and its board have embraced an advisory group’s report on a fast-approach future grid and directing work to address the group’s recommendations.
NYISO presented the Budget and Priorities Working Group with 48 market projects that it is proposing to be included in its 2024 budget.
FERC has approved SPP tariff revisions of resource adequacy requirements that would provide LREs with an alternative approach to deficiency payments.
An upcoming fuel and energy security study will examine the combined impacts of electric generation trends and extended cold snaps on NYISO system reliability.
NYISO updated the Operating Committee about forecasted summer conditions, assessing that margins are declining over time as NYISO transitions to clean energy.
FERC has rejected SPP tariff revisions that would help transmission owners continue to self-fund network upgrades to interconnect generators.
FERC approved MISO’s reworked ratio for use in its capacity auction a day before MISO began accepting offers on the postponed auction.
SPP staff and stakeholders spent much of last week’s virtual Markets and Operations Policy Committee meeting discussing resource adequacy.
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