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… appropriate. We use an estimate of the value of lost load (VOLL) for the value of expected unserved energy. The VOLL is the estimated consumer value lost because of an unplanned electricity supply outage. We use the VOLL to assess reliability benefits of different options. …

… measures to ensure overall unit costs do not exceed VoLL? Somewhat. Having a consistent price structure is … of overall cost of the scheme and limiting that cost to VOLL on a per-MWh basis is likely feasible. Irrespective of … ensure overall costs during an ERS activation are less than VoLL? If so, how do you consider this could be practically …

… sensitised Comment Value of expected unserved energy (VoLL22) Sensitivities of $10,000 per MWh, $20,000 per MWh … four demand scenarios under the standard assumptions for VoLL, capital cost, discount rate and interruption duration. … unserved energy is the same as the Value of lost load (VoLL). Sensitivity Option 1 Option 2 Option 3 Standard …

… would be more suitable. 7. Do you consider that our VoLL values of $26,400/MWh for Bombay and $27,800/MWh for … appropriate for valuing unserved energy? We consider that a VoLL value of $26,400/MWh is appropriate for Bombay for …

… We consider the discount rate (7%), value of lost load (VoLL) applied at Bombay GXP ($26,400/MWh) and 32 year … project? For options which include load shedding, do the VoLL calculations include costs due to planned and unplanned …

… 2.6 Value of unserved energy Q7 Do you consider that our VoLL values of $26,400/MWh for Bombay and $27,800/MWh for … for Vector who submitted caution was required in using VoLL to make decisions as it is subjective because it uses … an approximation. We undertake sensitivity analysis on our VoLL inputs to endeavour to account for this approximation. …

… and Disruptive scenarios under the standard assumptions for VoLL, capital cost and discount rate. Option 2 is also the … amount in the presence of a lower discount rate, high VoLL, low capital cost and longer outage assumptions. Option … of higher capital costs, shorter outage duration, lower VoLL and for the high discount rates. Q5. Do you agree that …

… test. Value of unserved energy Q7 Do you consider that our VoLL values of $26,400/MWh for Bombay and $27,800/MWh for … of Vector who submitted caution was required in using VoLL to make decisions as it is subjective because it uses … an approximation. We undertake sensitivity analysis on our VoLL inputs to endeavour to account for this approximation. …

… 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 …

… Value of expected unserved energy The Value of Lost Load (VoLL, also known as Value of Expected Unserved Energy) is … value of $26,200/MWh. More recently we have completed a VoLL study which looked at appropriate VoLL values for each GXP, reflecting the …