|
Resource Adequacy
Resource adequacy (RA, also supply adequacy) in the field of electric power is the ability of the electric grid to satisfy the end-user power demand at any time (typically an issue at the peak demand). RA is a component of the electrical grid reliability. For example, sufficient unused generation capacity shall be available to the electrical grid at any time to accommodate major equipment failures (e.g., a disconnection of a nuclear power unit or a high-voltage power line) and drops in variable renewable energy sources (e.g, wind dying down). The adequacy standard should satisfy the chosen reliability index, typically the loss of load expectation (LOLE) of 1 day in 10 years (so called "1-in-10"). Installed reserve margin Installed reserve margin (IRM) is the amount of the generating capacity in excess of the expected load, calculated to satisfy the loss of load expectation, typically 1 day in 10 years. IRM is used to measure the adequacy of the generation capacity and serves as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electric Power
Electric power is the rate of transfer of electrical energy within a electric circuit, circuit. Its SI unit is the watt, the general unit of power (physics), power, defined as one joule per second. Standard prefixes apply to watts as with other SI units: thousands, millions and billions of watts are called kilowatts, megawatts and gigawatts respectively. In common parlance, electric power is the production and delivery of electrical energy, an essential public utility in much of the world. Electric power is usually produced by electric generators, but can also be supplied by sources such as Electric battery, electric batteries. It is usually supplied to businesses and homes (as domestic mains electricity) by the electric power industry through an electrical grid. Electric power can be delivered over long distances by electric power transmission, transmission lines and used for applications such as Electric motor, motion, Electric light, light or Electric heat, heat with high ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vertically Integrated Electric Utility
In microeconomics, management and international political economy, vertical integration, also referred to as vertical consolidation, is an arrangement in which the supply chain of a company is integrated and owned by that company. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy a common need. It contrasts with horizontal integration, wherein a company produces several items that are related to one another. Vertical integration has also described management styles that bring large portions of the supply chain not only under a common ownership but also into one corporation (as in the 1920s when the Ford River Rouge complex began making much of its own steel rather than buying it from suppliers). Vertical integration can be desirable because it secures supplies needed by the firm to produce its product and the market needed to sell the product, but it can become undesirable when a firm's actions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Return On Investment
Return on investment (ROI) or return on costs (ROC) is the ratio between net income (over a period) and investment (costs resulting from an investment of some resources at a point in time). A high ROI means the investment's gains compare favorably to its cost. As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiencies of several different investments.Return On Investment – ROI , Investopedia as accessed 8 January 2013 In economic terms, it is one way of relating profits to capital invested. Purpose In business, ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marginal Cost
In economics, the marginal cost is the change in the total cost that arises when the quantity produced is increased, i.e. the cost of producing additional quantity. In some contexts, it refers to an increment of one unit of output, and in others it refers to the rate of change of total cost as output is increased by an infinitesimal amount. As Figure 1 shows, the marginal cost is measured in dollars per unit, whereas total cost is in dollars, and the marginal cost is the slope of the total cost, the rate at which it increases with output. Marginal cost is different from average cost, which is the total cost divided by the number of units produced. At each level of production and time period being considered, marginal cost includes all costs that vary with the level of production, whereas costs that do not vary with production are fixed. For example, the marginal cost of producing an automobile will include the costs of labor and parts needed for the additional automobile but not t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Storage
Energy storage is the capture of energy produced at one time for use at a later time to reduce imbalances between energy demand and energy production. A device that stores energy is generally called an Accumulator (energy), accumulator or Battery (electricity), battery. Energy comes in multiple forms including radiation, chemical energy, chemical, gravitational potential energy, gravitational potential, Electric potential energy, electrical potential, electricity, elevated temperature, latent heat and kinetic energy, kinetic. Energy storage involves converting energy from forms that are difficult to store to more conveniently or economically storable forms. Some technologies provide short-term energy storage, while others can endure for much longer. Bulk energy storage is currently dominated by hydroelectric dams, both conventional as well as pumped. Grid energy storage is a collection of methods used for energy storage on a large scale within an electrical power grid. Common e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capacity Credit
Capacity credit (CC, also capacity value or de-rating factor) is the fraction of the installed capacity of a power plant which can be relied upon at a given time (typically during system stress), frequently expressed as a percentage of the nameplate capacity. A conventional ( dispatchable) power plant can typically provide the electricity at full power as long as it has a sufficient amount of fuel and is operational, therefore the capacity credit of such a plant is close to 100%; it is exactly 100% for some definitions of the capacity credit (see below). The output of a variable renewable energy (VRE) plant depends on the state of an uncontrolled natural resource (usually the sun or wind), therefore a mechanically and electrically sound VRE plant might not be able to generate at the rated capacity (neither at the nameplate, nor at the capacity factor level) when needed, so its CC is much lower than 100%. The capacity credit is useful for a rough estimate of the firm power a system ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dispatchable Generation
Dispatchable generation refers to sources of electricity that can be programmed ''on demand'' at the request of power grid operators, according to market needs. Dispatchable generators may adjust their power output according to a request. Conventional power sources like gas, coal and some nuclear may be considered dispatchable to varying degrees, while most renewable energy sources are not. Sometimes though, coal & nuclear can be classed as non-dispatchable, due to the slow shutdown / startup times of their plants. Inverter-based intermittent resources like wind and solar power are quickly adjustable only to reduce their output ( curtailment) relative to their production limit at any given time, which is given by the availability of the resource (like sun or wind). For this reason, they are not considered dispatchable. Other types of renewable energy can be dispatchable without separate energy storage. These include hydroelectric, biomass, geothermal and solar thermal. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Firm Capacity
An electrical grid (or electricity network) is an interconnected network for electricity delivery from producers to consumers. Electrical grids consist of power stations, electrical substations to step voltage up or down, high voltage transmission line, electric power transmission to carry power over long distances, and finally electric power distribution to customers. In that last step, voltage is stepped down again to the required service voltage. Power stations are typically built close to energy sources and far from densely populated areas. Electrical grids vary in size and can cover whole countries or continents. From small to large there are Microgrid, microgrids, Wide area synchronous grid, wide area synchronous grids, and Super grid, super grids. The combined transmission and distribution network is part of electricity delivery, known as the ''power grid''. Grids are nearly always synchronous, meaning all distribution areas operate with three phase alternating current ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Load Serving Entity
Load serving entity (LSE) in a deregulated electricity market is a company or government agency that is obligated by law or via a long-term contract to provide electrical power to end-users. The term is used in regulation, yet is vague and thus subject to prolonged political wrangling. For example, the US law defines an LSE as an obligation-bound provider of electricity directly to consumers or to a utility that serves the consumers. FERC defines the LSE as "any entity, including a load aggregator or power marketer, that serves end-users within a control area and has been granted the authority or has an obligation pursuant to state or local law, regulation, or franchise to sell electric energy to end-users located within the control area". An LSE can be considered to be a demand aggregator for the end-users or a middleman capable of setting its own prices to extract profit. Opgrand suggests to classify the LSEs into two distinct types, ''regulated utilities'' and ''unregulated LS ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regional Transmission Organization
A regional transmission organization (RTO) in the United States is an electric power transmission system operator (TSO) that coordinates, controls, and monitors a multi-state electric grid. The transfer of electricity between states is considered interstate commerce, and electric grids spanning multiple states are therefore regulated by the Federal Energy Regulatory Commission (FERC). The voluntary creation of RTOs was initiated by FERC in December 1999. The purpose of the RTO is to promote economic efficiency, reliability, and non-discriminatory practices while reducing government oversight. Definition A regional transmission organization (RTO) in the United States is an electric power transmission system operator (TSO) that coordinates, controls, and monitors a multi-state electric grid. The transfer of electricity between states is considered interstate commerce, and electric grids spanning multiple states are therefore regulated by the Federal Energy Regulatory Commission ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Power Pool
Power pooling is used to balance electrical load over a larger network (electrical grid) than a single utility. It is a mechanism for interchange of power between two and more utilities which provide or generate electricity For exchange of power between two utilities there is an interchange agreement which is signed by them, but signing up an interchange agreement between each pair of utilities within a system can be a difficult task where several large utilities are interconnected. Thus, it is more advantageous to form a power pool with a single agreement that all join. That agreement provides established terms and conditions for pool members and is generally more complex than a bilateral agreement. In one model, the power pool, formed by the utilities, has a control dispatch office from where the pool is administered. All the tasks regarding interchange of power and the settlement of disputes are assigned to the pool administrator. The formation of power pools provide the followi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
