Balancing Efficiency; Availability; Capability and Flexibility

 After this lesson, you will be able to explain efficiency, capability, flexibility, and availability in your own words. You will be able to describe the concept of economic dispatch and discuss running and shutdown reserves and the reasons they are important. • Explain the concepts of economic dispatch • List the two reserve categories and explain their importance • Discuss power plant unit efficiency especially concerning how it fits into economic dispatch • Explain the importance of maintaining power plant unit capability as high as feasible • List and discuss the components of power plant unit flexibility especially concerning their importance in economic dispatch • Discuss the importance of power plant units being available when needed