EmbeddingGemma 2: an open, lightweight multimodal embedding model
deepmind.google·6d ago
AI Engineering
Hacker News·Aug 17·5 min read
$12B of US ratepayers' money wasted on a modeling mistake in PJM
TL;DR
PJM's flawed Reserve Requirement Study has led to an estimated $12 billion loss for U.S. ratepayers due to poor auction design and modeling errors. A reconstructed model reveals deeper issues that could exacerbate future costs.
✦ Why It Matters
Evaluate your energy procurement strategies to mitigate potential cost increases from flawed market models.
Key Takeaways
- Analyze PJM's capacity auction design for potential inefficiencies.
- Advocate for separating new and existing power plant auctions.
- Monitor upcoming emergency auction results for ratepayer impacts.
- Engage with FERC to push for necessary reforms in PJM.
How It Works
PJM operates a centralized capacity market to ensure sufficient electricity supply during peak demand. The Reserve Requirement Study models demand against supply for every hour, but its recent overhaul failed to incorporate critical factors like winter efficiency of gas plants, leading to inflated capacity needs.