Astrapé Consulting was tasked with analyzing the capacity value of energy-limited resources (ELRs) in the New York Control Area (NYCA). The capacity value of these resources depends on the duration of reliability events, and not on the duration of elevated load periods. In other words, how well do resources with energy limits keep the lights on when reliability is threatened compared to the ability of perfectly available resources to perform the same service. To analyse this, Astrapé performed simulations with the Strategic Energy and Risk Valuation Model (SERVM) of the NYCA and its neighbors. The simulations consisted of calibrating to 1 day in 10 year loss of load expectation (0.1 LOLE), adding energy-limited capacity, and removing perfect capacity to return reliability to 0.1 LOLE. The ratio of perfect capacity to energy-limited capacity defines the capacity value.
"Our findings demonstrate that in the NYCA there is no compelling reason to make a distinction between the capacity value of a conventional resource and that of energy-limited resources with 4 or more hours of continuous operation capability."