In a scenario where generation is insufficient and voltage is decaying, what must the system operator do?

In a situation where generation is insufficient and voltage is decaying, the primary goal of the system operator is to maintain reliability and stability within the electric grid. Shedding load involves intentionally disconnecting some consumers from the grid to reduce the total demand on the system. This action helps to balance the supply and demand more effectively, which is crucial when generation resources are unable to meet the consumption requirements.

By shedding load, the system operator can alleviate the strain on the electrical infrastructure, stabilize voltage levels, and prevent potential cascading failures or blackouts that can arise from severe imbalances between generation and consumption. This process is often considered a last resort but is vital for maintaining system reliability in critical situations.

While the other options may involve important aspects of grid management, they do not directly address the immediate need to rectify a critical situation caused by insufficient generation and decaying voltage. Correcting schedule deviations, increasing operating reserves, or scheduling interchange transactions are typically more proactive measures that might be undertaken during normal operational circumstances, but they would not directly resolve the urgent need for load reduction in this scenario.