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What does reliability and affordability mean to Dominion Energy and how does Dominion Energy consider them in the IRP? Does Dominion Energy define reliability and affordability as 24x7x365 year over the next 15 years in the IRP? Is there a threshold for outages per year? What is the planned Loss of Load?
Dominion Energy’s core mission is to provide the reliable, affordable, and increasingly clean energy that powers our customers every day. These tenets are carefully balanced and optimized, along with over 160 regulatory and legislative requirements, when running and processing the model for the Integrated Resource Plan (IRP).
At a high level, reliability and affordability mean providing power to all customers 24x7x365 as cost effectively as possible. More specially, the IRP plans to the reserve margin established by PJM which targets a “1-in-10 Loss of Load Expectation (LOLE)”. PJM plans to that reserve margin to avoid experiencing more than one event (like an outage) every 10 years.
Additional information related to modeling can be found in the Phase Three Topic Specific Workshop 1 - Modeling found here: Dominion Energy IRP Stakeholder Meetings & Materials