Print Email Facebook Twitter Clarifying the Interpretation and Use of the LOLE Resource Adequacy Metric Title Clarifying the Interpretation and Use of the LOLE Resource Adequacy Metric Author Stephen, Gord (IEEE Resource Adequacy Working Group) Tindemans, Simon H. (TU Delft Intelligent Electrical Power Grids) Fazio, John (IEEE Resource Adequacy Working Group) Dent, Chris J. (IEEE Resource Adequacy Working Group) Figueroa Acevedo, Armando (IEEE Resource Adequacy Working Group) Bagen, Bagen (IEEE Resource Adequacy Working Group) Crawford, Alex (IEEE Resource Adequacy Working Group) Klaube, Andreas (IEEE Resource Adequacy Working Group) Logan, Douglas (IEEE Resource Adequacy Working Group) Burke, Daniel (IEEE Resource Adequacy Working Group) Date 2022 Abstract The loss-of-load expectation (LOLE) risk metric has been used in probabilistic power system resource adequacy assessment for over 70 years, and today is one of the most recognizable and widely-used measures of system shortfall risk. However, this wide adoption has been accompanied by ambiguities and inconsistencies in its definition and application. This paper provides a unifying reference for defining the metric as it relates to modern analyses, while clarifying a number of common points of confusion in its application. In particular, the paper clarifies that LOLE is not a measure of expected total shortfall duration, that a 2.4 hours per year LOLE target implies a less reliable system than a 1 day in 10 years (0.1 days per year) LOLE target, and that exact conversions between hourly and daily LOLE targets are not generally possible. Illustrative examples are provided to help explain each of these points Subject probabilistic assessmentpower system planningLOLErisk metricsresource adequacy To reference this document use: http://resolver.tudelft.nl/uuid:4532911c-4eea-4455-b045-3375a57f4fd2 DOI https://doi.org/10.1109/PMAPS53380.2022.9810615 Event PMAPS 2022, 2022-06-12 → 2022-06-15, Online at Manchester, United Kingdom Part of collection Institutional Repository Document type conference paper Rights © 2022 Gord Stephen, Simon H. Tindemans, John Fazio, Chris J. Dent, Armando Figueroa Acevedo, Bagen Bagen, Alex Crawford, Andreas Klaube, Douglas Logan, Daniel Burke Files PDF RAWG_LOLE_Interpretation_7_.pdf 216.87 KB Close viewer /islandora/object/uuid:4532911c-4eea-4455-b045-3375a57f4fd2/datastream/OBJ/view