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… Benefits = Probability of event × (Unserved Energy × VoLL + Repair costs) We consider the following events and … Gabrielle unserved energy x monthly growth factor t ) x VoLL + cost of repair The risk in any given year is given by … 59.4 62.0 63.1 61.6 7% discount 23.9 24.9 25.5 24.9 low VoLL $20K 22.1 23.0 23.5 23.0 High VoLL $50K 53.5 55.7 56.9 …

… set energy scarcity prices at values consistent with 2018 VoLL ($17,000/MWh, $25,000/MWh and Yes. We note the role of … Refer PWC Estimating the Value of Lost Load.pdf, Transpower VoLL Study June 2018 … the Authority indicates in Option 2 it will review the VOLL however this is not indicated for Option 3. We consider …

… and Disruptive scenarios under the standard assumptions for VoLL, capital cost and discount rate. Option 2 is also the … amount in the presence of a lower discount rate, high VoLL, low capital cost and longer outage assumptions. Option … of higher capital costs, shorter outage duration, lower VoLL and for the high discount rates. Q5. Do you agree that …

… Benefits = Probability of event × (Unserved Energy × VoLL + Repair costs) We consider the following events and … outage, with 8 hours valued at the full Value of Lost Load (VoLL) and the remained at 20% of the value of unserved … cost: HILP event cost = Average(Demand profile ∗ Filter) × VoLL + Repair cost The risk is given by the annual expected …

… 527.1 Capital decrease (70% of base) 767.3 788.8 774.5 High VoLL ($60,000/MWh) 751.2 791.2 767.6 Low VoLL ($20,000/MWh) 617.5 628.2 603.7 The sensitivity …

… at more than $37.5 million using the Value of Lost Load (VoLL) set out in the Code, with other estimates suggesting …

… GWh 1,404 1,083 -321 -23% Dem Resp GWh 240 108 -132 -55% VoLL GWh - - 0 - CO2 Emissions kT 4,500 2,593 2,369 -224 -9% …