Full Title: Powering Through Uncertainty: A Resource Adequacy Toolkit for Western Regulators
Author(s): Ashtin Massie, Aaron Schwartz, and Lauren Shwisberg
Publisher(s): Rocky Mountain Institute
Publication Date: November 21, 2024
Full Text: Download Resource
Description (excerpt):
Resource adequacy is the ability of the electric grid to supply enough electricity to meet demand under a range of future conditions. It has come under increased scrutiny from regulators as traditional fossil fuel power plants approach retirement at the same time as electricity demand is forecasted to grow. This report aims to support regulators in the Western United States in understanding both the key drivers of resource adequacy risk and the specific options available to navigate and mitigate this uncertainty as the grid evolves.
The first part of this report identifies and contextualizes four primary drivers of resource adequacy risk facing Western states: load growth uncertainties, extreme weather and climate change, delays in planned resource builds, and slow transmission expansion.
The second part of this report shows how by pursuing improvements in planning practices, widening the suite of resource adequacy solutions, and seeking reforms in utility business models, regulators can reduce the risk of future resource adequacy shortfalls while continuing to facilitate a transition to a low-carbon grid that benefits customers and enables local economic development.