Article 66 Principles of cost-benefit analysis

the relevant TSO, or HVDC system owner or DC-connected power park module owner, or their prospective owner, shall base its cost-benefit analysis on one or more of the following calculating principles:

1. (i)

   the net present value;

2. (ii)

   the return on investment;

3. (iii)

   the rate of return;

4. (iv)

   the time needed to break even.

the relevant TSO, or HVDC system owner or DC-connected power park module owner, or their prospective owner, shall also quantify socioeconomic benefits in terms of improvement in security of supply and shall include at least:

1. (i)

   the associated reduction in probability of loss of supply over the lifetime of the modification;

2. (ii)

   the probable extent and duration of such loss of supply;

3. (iii)

   the societal cost per hour of such loss of supply.

the relevant TSO, or HVDC system owner or DC-connected power park module owner, or their prospective owner, shall quantify the benefits to F1electricity markets, cross-border trade and integration of renewable energies, including at least:

1. (i)

   the active power frequency response;

2. (ii)

   the balancing reserves;

3. (iii)

   the reactive power provision;

4. (iv)

   congestion management;

5. (v)

   defence measures.

the relevant TSO shall quantify the costs of applying the necessary rules to existing HVDC systems or DC-connected power park modules, including at least:

1. (i)

   the direct costs incurred in implementing a requirement;

2. (ii)

   the costs associated with attributable loss of opportunity;

3. (iii)

   the costs associated with resulting changes in maintenance and operation.