scholarly journals Clarifying the Interpretation and Use of the LOLE Resource Adequacy Metric

2021 ◽  
Author(s):  
Gord Stephen ◽  
Simon H. Tindemans ◽  
John Fazio ◽  
Chris Dent ◽  
Armando Figueroa Acevedo ◽  
...  
Keyword(s):  
Power System ◽  
Reliable System ◽  
Shortfall Risk ◽  
System Resource ◽  
Adequacy Assessment ◽  
Risk Metric ◽  
Loss Of Load Expectation

The loss-of-load expectation (LOLE) risk metric has been used in probabilistic power system resource adequacy assessment for over 70 years, and today is one of the most recognizable and widely-used measures of system shortfall risk. However, this wide adoption has been accompanied by ambiguities and inconsistencies in its definition and application. This paper provides a unifying reference for defining the metric as it relates to modern analyses, while clarifying a number of common points of confusion in its application. In particular, the paper clarifies that LOLE is not a measure of expected total shortfall duration, a 2.4 hours per year LOLE target implies a less reliable system than a 1 day in 10 years (0.1 days per year) LOLE target, and exact conversions between hourly and daily LOLE targets are not generally possible. Illustrative examples are provided to help explain each of these points.

scholarly journals Clarifying the Interpretation and Use of the LOLE Resource Adequacy Metric

2021 ◽  
Author(s):  
Gord Stephen ◽  
Simon H. Tindemans ◽  
John Fazio ◽  
Chris Dent ◽  
Armando Figueroa Acevedo ◽  
...  
Keyword(s):  
Power System ◽  
Reliable System ◽  
Shortfall Risk ◽  
System Resource ◽  
Adequacy Assessment ◽  
Risk Metric ◽  
Loss Of Load Expectation

The loss-of-load expectation (LOLE) risk metric has been used in probabilistic power system resource adequacy assessment for over 70 years, and today is one of the most recognizable and widely-used measures of system shortfall risk. However, this wide adoption has been accompanied by ambiguities and inconsistencies in its definition and application. This paper provides a unifying reference for defining the metric as it relates to modern analyses, while clarifying a number of common points of confusion in its application. In particular, the paper clarifies that LOLE is not a measure of expected total shortfall duration, a 2.4 hours per year LOLE target implies a less reliable system than a 1 day in 10 years (0.1 days per year) LOLE target, and exact conversions between hourly and daily LOLE targets are not generally possible. Illustrative examples are provided to help explain each of these points.

scholarly journals Power System Reliability Assessment in a Complex Restructured Power System

2019 ◽  
Vol 9 (4) ◽  
pp. 2296 ◽  
Author(s):  
N.Mahiban Lindsay ◽  
A.K. Parvathy
Keyword(s):  
Power Systems ◽  
Power System ◽  
Electricity Market ◽  
System Reliability ◽  
Reliability Assessment ◽  
Electric Energy ◽  
Electric Power System ◽  
Power System Reliability ◽  
Bulk Power ◽  
Adequacy Assessment

The basic purpose of an electric power system is to supply its consumers with electric energy as parsimoniously as possible and with a sensible degree of continuity and quality. It is expected that the solicitation of power system reliability assessment in bulk power systems will continue to increase in the future especially in the newly deregulated power diligence. This paper presents the research conducted on the three areas of incorporating multi-state generating unit models, evaluating system performance indices and identifying transmission paucities in complex system adequacy assessment. The incentives for electricity market participants to endow in new generation and transmission facilities are highly influenced by the market risk in a complex restructured environment. This paper also presents a procedure to identify transmission deficiencies and remedial modification in the composite generation and transmission system and  focused on the application of probabilistic techniques in composite system adequacy assessment

Probabilistic evaluation of the long-term power system resource adequacy: The Greek case

Energy Policy ◽  
2018 ◽  
Vol 117 ◽  
pp. 295-306 ◽  
Author(s):  
Christos K. Simoglou ◽  
Emmanouil A. Bakirtzis ◽  
Pandelis N. Biskas ◽  
Anastasios G. Bakirtzis
Keyword(s):  
Power System ◽  
Probabilistic Evaluation ◽  
System Resource

scholarly journals Importance of Reliability Criterion in Power System Expansion Planning

Energies ◽  
2019 ◽  
Vol 12 (9) ◽  
pp. 1714 ◽  
Author(s):  
Goran Slipac ◽  
Mladen Zeljko ◽  
Damir Šljivac
Keyword(s):  
Power Systems ◽  
Power System ◽  
Electricity Market ◽  
Market Research ◽  
Security Of Supply ◽  
Expansion Planning ◽  
Self Sufficiency ◽  
The Common ◽  
Development Levels ◽  
Loss Of Load Expectation

The self-sufficiency of a power system is no longer a relevant issue at the electricity market, since day-to-day optimization and security of supply are realized at the regional or the internal electricity market. Research connected to security of supply, i.e., having reliable power capacities to meet demand, has been conducted by transmission system operators. Some of the common parameters of security of supply are loss of load probability (LOLP) and/or loss of load expectation (LOLE), which are calculated by a special algorithm. These parameters are specific for each power system. This work presents the way of calculating LOLP as well as the optimization algorithm of LOLP, which takes into consideration the particularities of the power system. It also presents a difference in the treatment of LOLP regarding the observed power system and the necessary installed power capacity if applied to the calculated LOLP in relation to the optimized LOLP. As a conclusion, the study analyzed the parameters impact the regional electricity market—where the participants are countries with different development levels and various particularities of power systems—i.e., what it means when the same LOLP criterion is applied to them and the optimized LOLP.

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