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Similarly, Singh (2002) points out that setting the optimal level of capacity payments is a subjective task, while Gulen (2002) considers that the LOLP method is not adequate for largely hydro-based systems (such as Brazil), because the LOLP would be very small during wet seasons, which would imply disproportionate low revenues for thermal generators.
LOLP is calculated by the scheduling programme, as the risk that the available capacity will be less than the actual level of demand.