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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.
Power and Energy Society General Meeting, 2010 IEEE
Date of Conference: 25-29 July 2010