1. Short title This Act may be cited as the Grid Modeling of Dynamic Energy Loads and Resources Act of 2024 or the Grid MODEL Act of 2024 . 2. Definitions In this Act: (1) Bulk-power system The term bulk-power system has the meaning given the term in section 215(a) of the Federal Power Act ( 16 U.S.C. 824o(a) ). (2) Commission The term Commission means the Federal Energy Regulatory Commission. (3) Effective load carrying capability; ELCC (A) In general The term effective load carrying capability or ELCC means the ability of a generating resource to produce electricity when the grid needs it, measured as the additional load (or perfect replacement capacity) that the system can supply with a particular generator of interest with no net change in reliability. (B) Clarification The additional load (or perfect replacement capacity) referred to in subparagraph (A)— (i) may be measured using LOLE, EUE, or other metrics; and (ii) may be divided by the nameplate capacity of the generating resource to yield a percentage. (4) Electric Reliability Organization The term Electric Reliability Organization has the meaning given the term in section 215(a) of the Federal Power Act ( 16 U.S.C. 824o(a) ). (5) Electric utility The term electric utility has the meaning given the term in section 3 of the Federal Power Act ( 16 U.S.C. 796 ). (6) Expected unserved energy