The proposals for solving the current stranded capacity crisis should start a process of big picture thinking to achieve better collective outcomes on multiple long-term objectives. Doing so requires some decisive changes to the status-quo.
HOW WE GOT HERE: THE CHRONIC FACTORS BEHIND RECENT WOES
Contrast the following—energy and peak deficits are lower than 1% and 2% from over 10% less than a decade back, but thermal power plant load factors (PLFs) are down by almost 20% points.
For all its prospects, Renewable Energy (RE) is less than 10% of generation, so it cannot be blamed for the stranded thermal power assets that have mounted. In an effort to overcome the deficits, we have added much more thermal (coal) capacity over the last decade than what eventually was required. Results from CEA’s 19th EPS attest to the correction made to the over-projections of electricity demand from previous editions. Read More