Evaluating & Applying Resource Adequacy Metrics

January 27-28, 2025 | Online :: Central Time

0125-resource-adequacy

“Simply superb course.” Project Manager, Soltec (USA) 

“Good condensed program on a complex topic!” IRP Manager, BC Hydro

Electric utilities have commonly used loss-of-load expectation (LOLE) as a measure of power supply adequacy. Generally, resource expansion plans have been designed to limit the LOLE to not exceed one capacity shortfall day per ten-year period. However, this only captures one characteristic of adequacy — namely, frequency of shortfalls.  A more complete resource adequacy assessment should also include measures for shortfall duration and magnitude because it may also be economically prudent to limit the size and length of potential shortfalls.

This course will examine the work that utilities and power industry organizations are doing to come up with a better way of calculating resource adequacy, and how these may vary by region and other circumstances.  It will also provide bases by which ISOs and other balancing area organizations can best determine which measure best satisfies its system requirements and regulatory mandates.

Learning Outcomes

• Review the history of adequacy metrics
• Discuss the current work on adequacy metrics and the distinctions relative to traditional measures
• Evaluate how to translate probability metrics into tools that can be used for system expansion
• Identify how to account for capacity contributions of renewable and other non-thermal energy resources
• Examine how to incorporate economics in setting reserve margins
• Review methods for dealing with balancing reserves
• Describe the resource adequacy measures in operation at ISOs/RTOs

Monday, January 27, 2025 :: Central Time

9:00 – 9:15 a.m. :: Introductions & Overview

9:15 – 10:30 a.m. :: Background of Resource Adequacy Metrics

• Deterministic methods based on expected values and centralized, baseline generation schemes
• Advent and evolution of probabilistic methods to reflect uncertainties
• Emerging methodologies to reflect contemporary, complex system requirements

10:30 – 10:45 a.m. :: Morning Break

10:45 a.m. – 12:15 p.m. :: Current Work on Resource Adequacy Metrics

• IEEE
• NERC
• Regional variations and applications
• Industry SMEs
• Other

12:15 – 1:00 p.m. :: Lunch Break

1:00 – 2:30 p.m. :: How to Translate Resource Adequacy Metrics into Tools that Can Be Used for System Expansion

• Methods and modeling techniques for developing system expansion plans
• Converting resource adequacy metric into planning reserve margin
• Other methods besides the planning reserve margin to incorporate resource adequacy into system expansion planning
• Application to integrated resource plans (IRP)

2:30 – 2:45 p.m. :: Afternoon Break

2:45 – 4:45 p.m. :: How to Account for Capacity Contributions of Non-Thermal Energy Resources

• Wind
• Solar
• Non-hydro storage
• Hydro storage
• Demand response
• Imports

4:45 p.m. :: Course Adjourns for Day            

 

Tuesday, January 28, 2025 : Central Time

9:00 – 10:30 a.m. :: How to Incorporate Economics in Setting Reserve Margins

• What is the role of economics in decisions about electric power system resource adequacy?
• What is the economic criteria for resource adequacy? What are the key variables?
• How can the value of lost load (VOLL) be measured?
• How should economics be applied to real world problems of setting reserve margins or making resource investment decisions?

10:30 – 10:45 a.m. :: Morning Break

10:45 a.m. – 12:15 p.m. :: Dealing with Balancing Reserves

• Forecast errors and dependencies
• Reserve assessment and modeling — fixed vs dynamic simulation?
• What are the best resource candidates to carry balancing reserves?
• Shared resources across balancing areas and/or regions

12:15 – 1:00 p.m. :: Lunch Break

1:00 – 2:30 p.m. :: How ISOs/RTOs Address Resource Adequacy

• CAISO
• ERCOT
• ISO New England
• IESO

2:30 – 2:45 p.m. :: Afternoon Break

2:45 – 4:15 p.m. :: How ISOs/RTOs Address Resource Adequacy (cont’d)

• Midcontinent ISO
• New York ISO
• PJM

4:15 p.m. :: Course Adjournment

Baili Connors is a power market consultant in the resource planning and market assessments group with 1898 & Co. She has experience spearheading power market planning studies including resource adequacy assessments, integrated resource plans, and requests for proposals. This experience, coupled with her extensive background in statistics, has allowed her to apply advanced analytics to create optimized solutions for clients across the energy sector. Ms. Connors holds a Bachelor of Science in Statistics, Bachelor of Science in Mathematics, and Bachelor of Science in Chemistry from Montana Tech. She also holds a Master of Science in Clinical Psychology from Capella University and a Master of Science in Statistics from Texas A&M University. Prior to joining 1898 & Co., she was part of the long-term resource planning team at NorthWestern Energy.

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Brian Despard is a Senior Project Manager in the Resource Planning & Market Assessments group with 1898 & Co. He manages power market planning and analysis studies, such as integrated resource plans, decarbonization studies and asset valuations. He has over 30 years of experience in the power industry, with 15 years as an energy market consultant, 8 years as a utility strategy and planning analyst and 9 years as a commercial asset manager.  Mr. Despard’s market consulting background covers long-term fundamental analysis, development and asset transactions support, commodity risk management and power supply portfolio optimization. Prior to joining 1898 & Co., he worked for Siemens PTI Consulting (f/k/a Pace Global), economic consultants L. E. Peabody & Associates, Dynegy and Tennessee Valley Authority.

We will be using Microsoft Teams to facilitate your participation in the upcoming event. You do not need to have an existing Teams account in order to participate in the broadcast – the course will play in your browser and you will have the option of using a microphone to speak with the room and ask questions, or type any questions in via the chat window and our on-site representative will relay your question to the instructor.

• Microsoft recommends downloading and installing the Teams app if possible. You may also use the Edge browser or Chrome.
• You will receive a separate email with a unique link to a personalized landing page which will include links to join all sessions of this event.
• If you are using a microphone, please ensure that it is muted until such time as you need to ask a question.
• The remote meeting connection will be open approximately 30 minutes before the start of the course. We encourage you to connect as early as possible in case you experience any unforeseen problems.

Please Note: This event is being conducted entirely online. All attendees will connect and attend from their computer, one connection per purchase. For details please see our FAQ

If you are unable to attend at the scheduled date and time, we make recordings available to all attendees for 7 days after the event

REGISTER NOW FOR THIS EVENT:

Evaluating & Applying Resource Adequacy Metrics

January 27-28, 2025 | Online

Your registration may be transferred to a member of your organization up to 24 hours in advance of the event. Cancellations must be received on or before December 27, 2024 in order to be refunded and will be subject to a US $195.00 processing fee per registrant. No refunds will be made after this date. Cancellations received after this date will create a credit of the tuition (less processing fee) good toward any other EUCI event. This credit will be good for six months from the cancellation date. In the event of non-attendance, all registration fees will be forfeited. In case of conference cancellation, EUCIs liability is limited to refund of the event registration fee only. For more information regarding administrative policies, such as complaints and refunds, please contact our offices at 303-770-8800

Credits

EUCI is accredited by the International Accreditors for Continuing Education and Training (IACET) and offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard. IACET is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education and training.

EUCI is authorized by IACET to offer 1.3 CEUs for this event

Verify our IACET accreditation

Who recognizes IACET Credits?

Requirements For Successful Completion Of Program

Participants must log on each day and be in attendance for the entirety of the course to be eligible for continuing education credit. 

Instructional Methods

Case studies and PowerPoint presentations will be used in this program. 

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Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion.

Course CPE Credits: 15.5
There is no prerequisite for this Course.
Program field of study: Specialized Knowledge
Program Level: Basic
Delivery Method: Group Internet Based
Advanced Preparation: None

EUCI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org

 

Who Should Attend 

Individuals working in the following areas will benefit from attending this event: 

• Distributed and utility-scale energy storage (BESS) project developers  
• Distributed and utility-scale renewable energy project developers  
• Solicitation / procurement staff 
• Utility project management staff
• Utility legal staff and legal advisors
• Utility finance staff
• BESS integrators and EPCs
• BESS Equipment manufacturers (OEMs)
• Regulators and regulatory staff 
• BESS interconnection and other technical staff 
• BESS consultants