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An Estimate of the Value of Lost Load for Ireland. ESRI WP357. October 2010

Leahy, Eimear and Tol, Richard S.J. (2010) An Estimate of the Value of Lost Load for Ireland. ESRI WP357. October 2010. [Working Paper]

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    Abstract

    This paper estimates the value of short term lost load in the all island electricity market which includes the Republic of Ireland and Northern Ireland. The value of lost load, also known as the value of security of electricity supply, is inferred using a production function approach. Detailed electricity use data for the Republic of Ireland allows us to estimate the value of lost load by time of day, time of week and type of user. We find that the value of lost load is highest in the residential sector in both the Republic of Ireland and Northern Ireland. Our results can be used to advise policy decisions in the case of supply outages and to encourage optimum supply security. In the context of this study short term is taken to be a matter of hours rather than days or weeks.

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    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > energy policy (Including international arena)
    Countries > Ireland
    Countries > U.K.
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Economic and Social Research Institute (ESRI), Dublin > ESRI Working Papers
    Depositing User: Alyssa McDonald
    Official EU Document: No
    Language: English
    Date Deposited: 02 Dec 2017 18:08
    Number of Pages: 31
    Last Modified: 02 Dec 2017 18:08
    URI: http://aei.pitt.edu/id/eprint/87900

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