Grid MODEL Act of 2024

The Grid MODEL Act of 2024 aims to improve bulk-power system reliability by requiring probabilistic modeling that considers key uncertainties in generation, transmission, energy storage, and loads for resource adequacy modeling and integrated resource planning.

Sec. 2, Definitions: Defines key terms including bulk-power system, Commission (FERC), effective load carrying capability (ELCC), expected unserved energy (EUE), integrated resource planning, loss of load expectation (LOLE), planning reserve margin, power grid, probabilistic modeling, resource adequacy, and others, with clarifications on typical values and metrics.

Sec. 3, Probabilistic modeling for bulk-power system resource adequacy modeling and integrated resource planning: Directs FERC to order the Electric Reliability Organization to propose reliability standards within 18 months requiring probabilistic modeling that considers uncertainties in generation (e.g., distributed resources, weather, outages), transmission (e.g., weather, congestion), energy storage (e.g., efficiency, capacity fade), and loads (e.g., electrification, weather). The modeling must simulate metrics like LOLE, EUE, ELCC, and planning reserve margin to determine optimal resource portfolios, and identify key parameters. Existing probabilistic modeling approaches and state requirements are preserved, and compliance can be achieved by demonstrating adequate modeling.