Structural trends in the electricity industry are quickly changing the industry landscape. Traditional planning approaches are not well suited to the risks and opportunities caused by the interplay of these structural trends and the attendant uncertainty now faced by utilities. In this document, we discuss several best practices industry leaders are employing to adapt IRP development to these risks, opportunities, and uncertainties, including using least-regret planning, integrating new types of resources, and increasing stakeholder involvement.
This is the first of two documents that ScottMadden will issue about new approaches for IRP development. To access the second article, “Energy Efficiency: The Benefit of Treatment as a Resource in IRPs,” please click here.
Sussex Economic Advisors is now part of ScottMadden. We invite you to learn more about our expanded firm. Please use the Contact Us form to request additional information.