Confronting the stochastic reality of the National Electricity Market to avoid planning blind spots
1. Confronting stochastic reality in the NEM to avoid planning blind spots The way we plan the National Electricity Market (NEM) rests on a quiet assumption: that a handful of carefully chosen, deterministic input traces can stand in for a system that is, in reality, profoundly variable. Demand, weather, plant availability, gas use and price […]