Friday, September 9, 2011 at 12:00pm
A systems approach to understanding the value and costs of a rapid transition to natural gas as the basis for future electric power systems
Recent forecasts of new reserve capacity from unconventional natural gas resources at competitive price levels suggest a looming fundamental change in power markets and other industrial applications dependent on long-term supplies of this fuel. In the case of the power industry, the opportunity to use natural gas beyond load-following or traditional peaking-response will have profound consequences on current facilities used for base-load power including hydroelectric, coal and nuclear. There are significant uncertainties associated with these new estimates of accessible natural gas reserves. However, if they are accurate, then a planning process that anticipates a transition from newly stranded capital assets to a more decentralized and distributed energy system must be developed. I discuss the nature of this process and how it must evolve with new financial and regulatory tools in order to be successful.
Can't make it in person?
Watch it live (or recorded) at mediasite.video.cornell.edu/mediasit...d=ad85689d33974994a402ceec416a7c261d.