A few weeks ago I participated in a @FERC conference about interregional transmission. I talked about the value of transmission for addressing a latent reliability risk, correlated outages. 1/6
Correlated outages are a clear and present danger. Recent market reforms help plan for this risk with renewables but not for conventionals. This distorts market outcomes. It’s time to fix that. 2/6
Here is my multi step approach for quantifying and mitigating the risk of correlated outages: 1) augment performance based accreditation methods with expected availability metrics. We do it for renewables, we should do it for all resources, including DR. 3/6
2) Adopt a minimum interregional transfer requirement and cost allocation method to mitigate the risk of correlated outages. Transmission was crucial to reducing the impact of storms like Elliott and Uri, and justify broad allocation due to event driven beneficiaries. 4/6
3) Require a minimum transfer capability between the US interconnections. @BPBartholomew has shown a variety of recent justifications for increasing connectivity between East, West, and ERCOT. 5/6
4) Require mandatory interregional planning. It can just be a roll up of IRPs, to the extent they exist. We don’t need the best plan, just a transparent plan. We don’t have any plan today. 6/6
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