The “Randomizer” Program: Procedure and Operating Methods

This report provides a detailed explanation of the “Randomizer” program. The “Randomizer” program calculates the benefits of Electric Program Investment Charge (EPIC) research projects by estimating the effects of the projects on some of the parameters incorporated in the RPS Calculator. The “Randomizer” program is written in the VB environment inside an Excel spreadsheet. The program determines the random effects of EPIC projects on the model’s parameters. Values for the effects on the parameters are drawn repeatedly from one of the few statistical or empirical distributions. Once a set of values are drawn for all the involved parameters, the modified RPS Calculator is run. The main modification is related to the demand responsiveness to electricity prices. Finally, changes in electricity prices, carbon emissions, and renewable portfolios from the base case (without EPIC projects) are reported as the outputs of the program.