Valuing the resilience of the electrical power infrastructure

Charles Perrings, Elizabeth K. Larson, Paul J. Maliszewski

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

The reliability of electrical power supply is amongst the ambient conditions that inform house purchase decisions in all major cities. Where there is sufficient variation in outages and infrastructural conditions across an urban system it is possible to use hedonic price functions to estimate people's willingness to pay for more reliability in power supply (or willingness to accept compensation for less reliability in power supply). We illustrate the approach using estimates from a hedonic valuation of the reliability of electrical power supply in Phoenix as a function of infrastructural characteristics, environmental conditions (vegetation in particular), and the interactions between the two. It infers the value of infrastructures that contribute, in different ways, to the likelihood of outages.

Original languageEnglish (US)
Title of host publication2011 IEEE/PES Power Systems Conference and Exposition, PSCE 2011
DOIs
StatePublished - Jun 20 2011
Event2011 IEEE/PES Power Systems Conference and Exposition, PSCE 2011 - Phoenix, AZ, United States
Duration: Mar 20 2011Mar 23 2011

Publication series

Name2011 IEEE/PES Power Systems Conference and Exposition, PSCE 2011

Other

Other2011 IEEE/PES Power Systems Conference and Exposition, PSCE 2011
CountryUnited States
CityPhoenix, AZ
Period3/20/113/23/11

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Keywords

  • hedonic pricing
  • power infrastructure
  • resilience

ASJC Scopus subject areas

  • Energy Engineering and Power Technology

Cite this

Perrings, C., Larson, E. K., & Maliszewski, P. J. (2011). Valuing the resilience of the electrical power infrastructure. In 2011 IEEE/PES Power Systems Conference and Exposition, PSCE 2011 [5772485] (2011 IEEE/PES Power Systems Conference and Exposition, PSCE 2011). https://doi.org/10.1109/PSCE.2011.5772485