Guaranteeing the lights stay on What's it really worth?

Michiel De Nooij

No 375806, Competition & Regulation Times from New Zealand Institute for the Study of Competition and Regulation

Abstract: Power outages are inconvenient and costly. Firms lose production, face material damage and incur restart costs; households lose leisure time and suffer from stress; and public services may shut down. Reducing the number of outages therefore seems attractive - but doing so creates costs that eventually are borne by electricity users. Resolving the trade-off between security and costs in a socially optimal way requires information on the value of electricity outages. Michiel de Nooij explains how this might be done.

Date: 2007-03-01
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Persistent link: https://EconPapers.repec.org/RePEc:vuw:vuwcrt:375806

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