There are many indicators of energy security. Few measure what really matters-an affordable and reliable energy supply-and the trade-offs between the affordability and reliability. Reliability is physical, affordability is economic. The latest Russian invasion of Ukraine highlights some of the...

This paper estimates the value of short term lost load in the all island electricity market which includes the Republic of Ireland and Northern Ireland. The value of lost load, also known as the value of security of electricity supply, is inferred using a production function approach. Detailed...