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LICAP Promises, Pitfalls & Politics

LICAP Promises, Pitfalls & Politics. Tom Austin Maine PUC March 18, 2005. Important Definitions. Camel (Kam’ el) 1. A humped, long-necked ruminant mammal. 2. A horse designed by a committee. Even more important definitions.

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LICAP Promises, Pitfalls & Politics

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  1. LICAP Promises, Pitfalls & Politics Tom Austin Maine PUC March 18, 2005

  2. Important Definitions • Camel (Kam’ el) 1. A humped, long-necked ruminant mammal. 2. A horse designed by a committee

  3. Even more important definitions • Hubris (hyoo’ bris) in classical Greek ethical and religious thought, overweening presumption suggesting impious disregard of the limits governing human action in an orderly universe. It is the sin to which the great and gifted are most susceptible, and in Greek tragedy it is usually the hero's tragic flaw.

  4. Definition of the LICAP case • Devon (dev’ en) 1. A breed of reddish cattle raised primarily for beef. 2. Some older generating units in SW CT needed for reliability

  5. Promises – Maintain Reliable Service • Everyone served off individual network • Grid service is a common good • Increase price stability • Demand Response (real time – on peak)

  6. Pitfalls • Doesn’t solve the near term problem • Potential Expense • If it works • If it doesn’t work • The Camel

  7. Practical Problems • Large gulf between parties, including states • Weak financial condition of some generators • Trying to do something new

  8. Strategy • Anticipate problems w/ market structure • Price based demand response • Elasticity, elasticity, elasticity • Encourage long term competitive contracts, particularly with new resources.

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