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Climate Disasters, Grid Outages and Economic Losses

In: Proceedings of the 2024 3rd International Conference on Public Service, Economic Management and Sustainable Development (PESD 2024)

Author

Listed:
  • Lingjun Xu

    (China Electric Construction Group East China Survey and Design Institute Co)

  • Na Zhong

    (China Electric Construction Group East China Survey and Design Institute Co)

  • Qiang Liu

    (China Electric Construction Group East China Survey and Design Institute Co)

  • Chunyi Tang

    (China Electric Construction Group East China Survey and Design Institute Co)

  • Xiaofen Chen

    (China Electric Construction Group East China Survey and Design Institute Co)

  • Zhanxing Xu

    (China Electric Construction Group East China Survey and Design Institute Co)

Abstract

This paper assesses the far-reaching economic and social impacts of large-scale power outages on the power grid caused by frequent extreme weather events in the context of global warming. The direct and indirect losses of the large-scale blackout on the society and economy, including casualties and enterprise economic losses, were analyzed, and a comprehensive loss index system was proposed. The paper established an assessment model and quantitatively analyzed the economic losses caused by the blackout through questionnaire survey and data collection. The results show that the direct economic loss caused by the power outage is proportional to the electric load, in which the secondary industry is affected the most, while the primary industry is affected the least. The arithmetic analysis assesses the economic losses under average and maximum daily loads based on 2019 data, and finds that the losses are particularly severe in the third quarter due to high power loads. The paper provides a scientific basis for the government and power companies to respond to major power outages, and is of great significance for building a new type of power system and ensuring social and economic stability.

Suggested Citation

  • Lingjun Xu & Na Zhong & Qiang Liu & Chunyi Tang & Xiaofen Chen & Zhanxing Xu, 2024. "Climate Disasters, Grid Outages and Economic Losses," Advances in Economics, Business and Management Research, in: Qiujing Wu & Songsong Liu & Guoliang Wang & Jia Li (ed.), Proceedings of the 2024 3rd International Conference on Public Service, Economic Management and Sustainable Development (PESD 2024), pages 573-582, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-598-0_61
    DOI: 10.2991/978-94-6463-598-0_61
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