Valuing public transportation systems

Writing on electricity in Ontario, I’ve frequently argued the value of a watt is simply the value of the incremental cost of the watt it displaces – meaning vRES sources with no dispatchability and not expectation of production during peak periods are only worth the fuel displaced when they are producing.
This article argues public transportation systems have much higher value than generally recognized for the same reason – they displace traffic in the most congested areas, at the times of heaviest gridlock.