Value of Lost Load: An Efficient Economic Indicator for Power Supply Security? A Literature Review

By T. Schröder, W. Kuckshinrichs. Frontiers in Energy Research, 2015

166 citations recorded by the source corpus.

Security of electricity supply has become a fundamental requirement for well-functioning modern societies. Because of its central position in all sections of society, the present paper considers the economic consequences of a power supply interruption. The Value of Lost Load (VoLL) is a monetary indicator expressing the costs associated with an interruption of electricity supply. This paper reviews different methods for calculating VoLL, provides an overview of recently published studies, and presents suggestions to increase the explanatory power and international comparability of VoLL.

Subfields: Electrical and Electronic Engineering, Safety, Risk, Reliability and Quality

View Paper: https://www.semanticscholar.org/paper/ce6bcea247c7c25555bd47a61896a9d6002c0ac1

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Electrical and Electronic Engineering

1. P. Joskow
2. Michael Pollitt
3. Peter Cramton
4. Axel Ockenfels
5. Carlo Cambini
6. Laura Rondi
7. D. Finon
8. Virginie Pignon

In Safety, Risk, Reliability and Quality

1. P. Joskow

Citations in the corpus

• Vehicle-to-Everything (V2X) energy services, value streams, and regulatory policy implications (2020, background): “For private users in the residential sector the values range from a few €/kWh up to € 45/kWh (Schröder et al., 2015).”
• Challenges for wholesale electricity markets with intermittent renewable generation at scale: the US experience (2019, background): “Estimates of the VOLL vary widely, but are typically much higher than the marginal operating cost of the last unit to be dispatched (Schröder and Kuckshinrichs, 2015).”