Vc.rroBae aSSexruBHocrn |ASC 'no cpaBHeugro c
BapHaHToM Mo)KeT 6nrl 3arrucaHo B BHAe
Siarc * 3."0 - Spex ( 31"' f .3*o,'. (29.33)
fAe 3p"* - 3KOHOMHff p aCqeTHbrX SaTpaT B SHeprOCHCTeMe BCtreA-
crBHe yJryquelrHrr pexHMa pa6oru 6asHcHHx TerrJroBbrx H aroMHbrx
sireKrpocraHr{Hfi B rrepHoA npoBaJroB rpaQaxon Hafpy3KH cHcTeMbr
(cHHxeune aBapHfiHocrH arperaroB renJroBblx Lt aroMHbrx craHqnfi,
yMeHbr.rrerrHe rrpocToeB .B. peMoHre, yJryqueHHe cTpyKTypbr FeHepH-
pyroulHx rvroqnocrefi B 3HepfocHCTeMe 3a cqeT BBoAa 6o.nee 3KoHo-
MHqHbrx 6asonHx KOC c KpyrrHb{MH arperaraMa, yBeJrHqeHHe yAeJrb-
Horo Beca A3C n r. A.)
3Q$exr B oHeprocncreMe or BBoAa |ASC onpeAeJrffror ryreM
cpaBHeHHfl noxasarenefi onrHnalrHofi crpyKTypbr 3HeprocHcreMbr c
|AOC 14 6es fA3C. B ilpeABapHreJlbHbrx pacqerax 3ror a0Qexr
fA3C Mox(Ho npHHHMarb rro 3KoHoMHH pacqerHbrx 3arpar Spu* -
6 py6/roA Ha I xBr Hacocsofi Mou{Hocrn fA3C.
flpu eu6ope napaMerpots H orrpeAeneHnn 3KoHoMHqecKoft aQQerc-
rHBHocrH fA3C raK xe, KaK npH npoeKrHpoBaHHH f3C, cneAyer
yqHTbIBarb sar<rop BpeMeHH, a TaKlKe AononHHTeJrbHbre 3aTpaTbr
no JTHHHf M 3neKrpolepeAaqH.
23.6. PACIIETHAS OEECNEqEHHOCTb 3HEPTOOTBAqh T3C
flon pacuerHofi o6ecneqeHHocrblo oHeproorAaqH rHApo3neKrpo-
craHunrr pp noruHMaercfl BepoffTuocrb roro, qro 3HeproorAarra 6yaer
He MeHbilre HeKoToporo 3HaqeHHf, onpeAeaeHHoro B npoeKTe H npH-
HflToro B 6anancax uourHoc, eft 3HeprocncreMbr. Pac.{er}iaq o6ecne-
qeHHocTb onpeAenfleT rapaHrHpoBaHHyIo cpeAHeMecflqHyro MorrlHocTb
/1/i&, xoropoft f3C pacnoJraraer B pacverHnrfi uanonoAHufi roA
B MoMeHr npoxoxAeHHs roAoBoro MaKcHMyMa Harpy3KH. C.[eAoea-
TeJIbHO, pp Onpe,(eJ'rfrer codofi ycraHoBJreHHyio Mou{HocTb f3c, rrpH-
cqere ycraHoBneHHyto Mou{Hocrb fOC, cBoAHTcfl K conocraBJreHuro
3KOHOMHH B HapOAHOM rOSnfiCrne or yBenHqelrHs Mou{HOCTH r3c
npH nepexoAe K MegbureMy 3HaqeHuro odecneqeHHocrH c AonoJrHH-
Te.rrbHhrMH 3aTparaMn (n.ra yuep6artut), nosHHKaro[TIHMH Ha cropoHe
norpe6llrelefi B ycnoBHqx BoAHocrH, coorBercrByroudrl 6oafurefi
o6ecneqeHHocrg.
PacqerHas o6ecne,ieHHocTb-3Hepro3KoHoMHrrecKafl KaTeropHfl,
oAHaKo ee 3KoHoMHtlecKoe odocHoeauue cBs3aHo co 3HaqgTeJrbribrMH
TpyAFIocrflMH. I-Ioerony Mox(Ho crrHTarb AonycTHML,rM BbrffBJrelrHe
onrHMaJrruoft 3oHbr pp, B rrpeAenax xoropofi rapaHTHpoBaHHafl MOUI-
HocTb f3C cyurecrBeHuo He lrsMeHflercfl.
154
3AMCH'IEMbIM PacuerHyro o6ecneqeHHocrb ueo6xoAunto o[peAeJrflTb Ha ocgoBe
OilTHMH3aIIHI'{ ypOBHfl rlaAeX(HoCrlI cHCTeMbI B I{eJIOi\I. Ho B r.racToff.
il{ee BpeMfi eure nojlb3yrorcfl uero4nxofi, ocHoeaHr:oft Ha coxpaHe-
HHH B rrepHOA AesHUHrOe MareprraJrbHoro 1ananca 3a cqer npoue.
AeHHf C[eUHaJrbHbrX MeporrpHsrnfi KaK B 3HepfocHcreMe, TaK rr y
norpe6ure"nefi.
o6lrsfi 3KoHoMHqecxnfi xpnrepnft, HcrroJrbsyeunrft AItfl nnr6opa
pacqerHofi _o_6ecner{eHHocrH, Tor x€, qro H npH eu6ope ApyrHX rra-
paMerpoe fOC, a riMeHHo:
. :3+min.
flp" su6ope pacuerHoft o6ecne,Ieuuocru san6onee yAo6no rroJrb.
30BaTbCq BbrpalKeHHeM
A3screC: ASecKec,
rA€ ASscrec -AOIIOJIHHTeJIbHbI€ 3aTpaTbl, BO3HHKaIOx{He B eHepro-
cHcreMe H y norpe6ateneli rIpH yBenHireHprn ycraHoBJresHorl uou1-
Hocrn f3C w coorBercrBeHHoM cHHxeHHH pacueruofi o6ecneqeH-
HOCTH; A3scKeC-AOIIOJIHHTeJIbHbIe 3afpaTbl, BO3HHKaIO[UHe B oHep-
rOcllcTetrle npH yBeJIHqeHHH MOI{HOCTH galr{eHqer\aofi KOC.
!,ononHnre,Tbgbre 3arpaTbr rro gaueHseuofi K3C onpeAenffrorcfl
raK 
T., 
KaK H npu nu6ope ApyrHX napaMerpoB, a HMeHHo:
ASscKsc - {AKr<u. * LH{r.f 3,onA3br*,
HJrH, pa3AeJrHB BCe Ha AN, no.nyqHM:
AJscKec : EJrrc o" +AIi{*o" + 3"o,!o*,br*, (23.34)
rAe hnon -r{HCflO iIaCOB HCIOJIb3OBaF{Hfi AOnOllHHTenbHOft MOU{HOCTH
K3C. Ocraluuue o6osnaqenHs re x€, trro H npa au6ope ApyrHxrapaMerpoe l3C (cu. S 23.2).
AononHnreflbHbre 3arparb,r no f3C orJrHqarorcff or 3arpar, Hc-
norb3yeMbrx npH nu6ope ee IIapaMerpoB, Ha Aeouqur asn"o, BO3-
HnrarcuIsfi y rrorpe6HTe.reft B ycJroBHf x BorHocrH, npeBbrru'arcuefi
3HaqenHe pacqernori o6ecuetreHnocrH:
, A3.ea : E"(rac * Hrx,* A3^.+, (23.35)
rlpKqeM
AS,c"+ - ftau4ANaeeoree,
rge ho"q- npoAoJrx(HTeJrbHoCTb aeQuqHra; ANA.Q - cHHx(eHHe MOrrI-
455