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The value of supply security: The costs of power outages to Austrian households, firms and the public sector

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Author Info

  • Reichl, Johannes
  • Schmidthaler, Michael
  • Schneider, Friedrich

Abstract

This paper presents a model for assessing economic losses caused by electricity cuts as well as Willingness-to-Pay to avoid these power outages as an approximation to the value of supply security. The economic effects for simulated power cuts from 1 to 48h, which take the affected provinces, the day of the week and the time of day into consideration, can be calculated using the assessment tool APOSTEL. The costs due to power cuts are computed separately for all sectors of the economy and for households. The average value of lost load for Austrian households and non-household consumers in the case of a power cut of 1h on a summer workday morning was calculated to be 17.1€ per kWh of electricity not supplied.

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File URL: http://www.sciencedirect.com/science/article/pii/S0140988312002149
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Bibliographic Info

Article provided by Elsevier in its journal Energy Economics.

Volume (Year): 36 (2013)
Issue (Month): C ()
Pages: 256-261

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Handle: RePEc:eee:eneeco:v:36:y:2013:i:c:p:256-261

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Web page: http://www.elsevier.com/locate/eneco

Related research

Keywords: Power outage; Value of supply security; Empirical analysis; End-user survey;

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Cited by:
  1. Röpke, Luise, 2013. "The development of renewable energies and supply security: A trade-off analysis," Energy Policy, Elsevier, vol. 61(C), pages 1011-1021.
  2. Wenzel, Lars & Wolf, André, 2014. "Welfare implications of power rationing: An application to Germany," HWWI Research Papers 148, Hamburg Institute of International Economics (HWWI).
  3. Piaszeck, Simon & Wenzel, Lars & Wolf, André, 2013. "Regional diversity in the costs of electricity outages: Results for German counties," HWWI Research Papers 142, Hamburg Institute of International Economics (HWWI).
  4. Luise Röpke, 2013. "The Development of Renewable Energies and Supply Security: A Trade-Off Analysis," Ifo Working Paper Series Ifo Working Paper No. 151, Ifo Institute for Economic Research at the University of Munich.

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