Value of Lost Load: An Efficient Economic Indicator for Power Supply Security? A Literature Review
Security of electricity supply has become a fundamental requirement for well-functioning modern societies. Because of its central position in all sections of society, the present paper considers the economic consequences of a power supply interruption. The Value of Lost Load (VoLL) is a monetary in...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Frontiers Media S.A.
2015-12-01
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| Series: | Frontiers in Energy Research |
| Subjects: | |
| Online Access: | http://journal.frontiersin.org/Journal/10.3389/fenrg.2015.00055/full |
| _version_ | 1818914410736910336 |
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| author | Thomas eSchröder Wilhelm eKuckshinrichs |
| author_facet | Thomas eSchröder Wilhelm eKuckshinrichs |
| author_sort | Thomas eSchröder |
| collection | DOAJ |
| description | Security of electricity supply has become a fundamental requirement for well-functioning modern societies. Because of its central position in all sections of society, the present paper considers the economic consequences of a power supply interruption. The Value of Lost Load (VoLL) is a monetary indicator expressing the costs associated with an interruption of electricity supply. This paper reviews different methods for calculating VoLL, provides an overview of recently published studies, and presents suggestions to increase the explanatory power and international comparability of VoLL. |
| first_indexed | 2024-12-19T23:45:57Z |
| format | Article |
| id | doaj.art-c75bef08f0204ebea8b67b573f43ee73 |
| institution | Directory Open Access Journal |
| issn | 2296-598X |
| language | English |
| last_indexed | 2024-12-19T23:45:57Z |
| publishDate | 2015-12-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Energy Research |
| spelling | doaj.art-c75bef08f0204ebea8b67b573f43ee732022-12-21T20:01:19ZengFrontiers Media S.A.Frontiers in Energy Research2296-598X2015-12-01310.3389/fenrg.2015.00055158549Value of Lost Load: An Efficient Economic Indicator for Power Supply Security? A Literature ReviewThomas eSchröder0Wilhelm eKuckshinrichs1Forschungszentrum Jülich GmbHForschungszentrum Jülich GmbHSecurity of electricity supply has become a fundamental requirement for well-functioning modern societies. Because of its central position in all sections of society, the present paper considers the economic consequences of a power supply interruption. The Value of Lost Load (VoLL) is a monetary indicator expressing the costs associated with an interruption of electricity supply. This paper reviews different methods for calculating VoLL, provides an overview of recently published studies, and presents suggestions to increase the explanatory power and international comparability of VoLL.http://journal.frontiersin.org/Journal/10.3389/fenrg.2015.00055/fullEnergy systemsEnergy Securityliterature reviewPower OutageValue of lost load (VOLL) |
| spellingShingle | Thomas eSchröder Wilhelm eKuckshinrichs Value of Lost Load: An Efficient Economic Indicator for Power Supply Security? A Literature Review Frontiers in Energy Research Energy systems Energy Security literature review Power Outage Value of lost load (VOLL) |
| title | Value of Lost Load: An Efficient Economic Indicator for Power Supply Security? A Literature Review |
| title_full | Value of Lost Load: An Efficient Economic Indicator for Power Supply Security? A Literature Review |
| title_fullStr | Value of Lost Load: An Efficient Economic Indicator for Power Supply Security? A Literature Review |
| title_full_unstemmed | Value of Lost Load: An Efficient Economic Indicator for Power Supply Security? A Literature Review |
| title_short | Value of Lost Load: An Efficient Economic Indicator for Power Supply Security? A Literature Review |
| title_sort | value of lost load an efficient economic indicator for power supply security a literature review |
| topic | Energy systems Energy Security literature review Power Outage Value of lost load (VOLL) |
| url | http://journal.frontiersin.org/Journal/10.3389/fenrg.2015.00055/full |
| work_keys_str_mv | AT thomaseschroder valueoflostloadanefficienteconomicindicatorforpowersupplysecurityaliteraturereview AT wilhelmekuckshinrichs valueoflostloadanefficienteconomicindicatorforpowersupplysecurityaliteraturereview |