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… as an imperfect safeguard. • The inconsistency between the VoLL of ~$35,000/MWh (which participants would be … licence were noted as disciplines, though the cost-below-VoLL expectation is not a strict Code requirement. … SO would compare providers and ensure costs remain below VoLL, given the two-part payment structure and uncertainty …

… 13 Table 3 - Estimated VoLL (08:00 14/02/23 - 16:30 10/03/23) … time to restore service, the estimated value of lost load (VoLL4) for the duration of the grid emergency (08:00 14/02/23 - 16:30 10/03/23) is significant. VoLL was determined by comparing the load successfully …

… to restore service means the estimated value of lost load (VoLL) will be significant. A calculation of VOLL will be included in the final report. TRANSPOWER NEW … network TUI Tuai substation Unison Unison Networks VoLL Value of lost load WHI Whirinaki substation WRA Wairoa …

… to ensure that the anticipated costs of ERS are less than VoLL (on a per-unit basis). • ERAS costs are to be recovered … report on use of ER • Details of ER use • Comparison with VoLL costs • Learn as we go feedback loop which may inform …

… report on use of ER • Details of ER use • Comparison with VoLL costs Pre-event costs only 22 Looking ahead to workshop …

… report on use of ER • Details of ER use • Comparison with VoLL costs What information should the SO report and to …

… impacts were monetised using the Value of Lost Load (VoLL) and multiplied by the average likelihood of occurrence …

… prices are not capped any lower than value of lost load (VoLL).35 In practice, relying solely on an “energy-only” … a result, if prices do not rise sufficiently often towards VoLL due to various interventions, a lack of generation … setting the energy-only market price cap appropriately at VoLL can be difficult to implement. This is simply because …

… at more than $37.5 million using the Value of Lost Load (VoLL) set out in the Code, with other estimates suggesting …

… network means the estimated value of lost load (VoLL) will be large. A calculation of VoLL will be included in the final report. 4.4 Restoration … Upper North Island Reactive Power Controller VLD Vector VoLL Value of lost load TRANSPOWER NEW ZEALAND | System …