Resource Adequacy

Executive Summary

The survey focused on four key elements of resource adequacy as follows:

1) Institutional Framework for Resource Adequacy
2) Resource Adequacy Metrics
3) Reliability and Economic Implication of Resource Adequacy
4) Studies and Modeling

Each TSO/ISO is at different stage of the clean energy transition and have widely different resource mix. Therefore, the nature and priority of actions being taken to ensure resource adequacy are different. There is major involvement of regulatory institutions and system operators in the assessment, analysis and visibility of resource adequacy in line with national level/regional level requirements by the policy making bodies. There are different metrics for RA assessment however, the majority of the large power systems use the LOLE metric for the RA assessment. The RA assessment is done majorly on annual or seasonal basis with periodic monitoring of RA by the regulators and authorities.

There is a need for chronological probabilistic simulations for the renewables across different profiles and timeframes to assess LOLE risks. All major system operators have defined qualifying criteria for the resources. There are different methodologies for capacity credit for the resources, especially for the energy limited resources, considered in RA studies such as Equivalent Conventional Power, adjustment factor, average expected value of available capacity, Expected Load carrying capability etc.

The transmission and generation planning is coordinated to ensure resource adequacy with suitable cost benefit analysis in the mid to long term horizon with identification of multiple value streams. The role of demand response and energy storage in the RA framework to tackle reliability challenges is still evolving. It is recognized that interconnection may play important role for resource adequacy purposes to ensure system reliability. The major system operators factor directly or indirectly the weather conditions along with future climatic projections in the RA planning and assessment frameworks.

There is broad recognition of impact of new technological advancements such as electric vehicles in the resource adequacy planning and assessment frameworks. There is general observation that retirements of the conventional generation would have an impact on RA planning and assessment.