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Privatizing electric reliability through smart grid technologies and priority service contracts

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1 Author(s)
Shmuel S. Oren ; Department of Industrial Engineering and Operations Research, University of California at Berkeley, 94720, USA

Smart grid technologies in combination with the methodological foundation laid by the economic theory of Priority Service, enable the conversion of electric service reliability from a public good to a private good. Such a transformation is achieved by offering electricity service as a product line differentiated according to service reliability from which customers can self-select the level of reliability that fits their needs and pocketbook. This conceptual paradigm is illustrated through a specific proposal for a multilevel Emergency Interruptable Load Response Service (EILS) program at ERCOT.

Published in:

IEEE PES General Meeting

Date of Conference:

25-29 July 2010