Long-term resource adequacy-supply resources

Long-term resource adequacy deals with securing existing and new generation resources, demand resources, transmission upgrades and market features. On July 31, 2002, the Federal Energy Regulatory Commission (FERC) issued a Notice of Proposed Rule (NOPR) on Standard Market Design (SMD) and released a White Paper, "Wholesale Power Market Platform", on April 28,2003. A resource adequacy program would have both the short-term and long-term markets role in ensuring reliability of the electric power system. Long-term resource adequacy needs new investment and the investors should have incentive to develop new resources and to maintain existing supply resources. The distributed resources, the life extension program (license renewals) from 40 to 60 years for nuclear power plants, power uprates, and advanced nuclear reactor designs can help to supply resources portion of the long-term resource adequacy requirements.