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Climate Risk In The Us Electric Utility Sector
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Book Synopsis Climate Risk in the US Electric Utility Sector by : Andre Bertolotti
Download or read book Climate Risk in the US Electric Utility Sector written by Andre Bertolotti and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the impacts of climate change on equity investments in US Electric Utilities by evaluating market reactions around extreme weather events. We hypothesize that investment risk from climate change is already present in the market and that extreme weather events evidence this risk through price and risk dislocations. From the geolocation of power plants, we build up the exposure of parent company securities to hurricanes, wildfires, floods, droughts and temperatures to arrive at a combined climate change exposure score. We find price reactions of up to 1.5% and rise in volatility of 6% in the 30-day period after a hurricane make landfall. We then determine the extreme weather exposure for each power plant location and aggregate these exposures to the publicly traded parent company for a climate risk exposure score.
Book Synopsis Climate Change Adaptation in the United States Electric Utility Sector by : Melissa Aura Higbee
Download or read book Climate Change Adaptation in the United States Electric Utility Sector written by Melissa Aura Higbee and published by . This book was released on 2013 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: The electric utility sector has been a focus of policy efforts to reduce greenhouse gas emissions, but even if these efforts are successful, the sector will need to adapt to the impacts of climate change. These are likely to include increased heat waves, drought, extreme precipitation events, and sea level rise. Electric utilities play a key role in providing electricity services in cities that will be facing all of these difficulties. Cities depend on electricity service for public health, safety and economic development. This thesis examines how electric utilities in the United States are approaching climate change adaptation and the factors enabling and constraining these efforts. The thesis draws on an analysis of electric utility responses to surveys distributed by the Carbon Disclosure Project as well as case studies of Consolidated Edison, Entergy, and Pacific Gas & Electric. The case study utilities are incorporating climate change projections into their risk management and capital planning activities. Integrating climate change projections into risk management efforts helps utilities use replacement opportunities to build greater resilience into infrastructure systems and ensure that adaptation strategies take competing demands on resources into account. Both approaches to adaptation are generally recommended by adaptation experts. However, existing internal decisionmaking may not be well suited for incorporating the uncertainties of climate change impacts. The case study utilities could be using Scenario Planning to develop strategies likely to be effective given a range of possible futures, but they are not. I argue that state utility regulatory commissions should consider taking a more active role in providing guidance and oversight to utilities regarding climate change adaptation. They should consider (1) requiring utilities to submit climate change vulnerability assessments and detailed adaptation plans; (2) incorporating climate change risk and adaptation considerations into existing electricity plans; and (3) convening joint climate change planning efforts with utilities, municipal governments, and a range of other stakeholders. Cities and states that would like to see electric utilities put more emphasis on climate change adaptation should consider sharing climate change projections and forecasts of potential climate change impacts. Provision of such information has been effective in encouraging adaptation planning in the case studies. The actual adaptation strategies that utilities have adopted depend largely on the risks they face and the regulatory and policy environment in which they find themselves.
Book Synopsis Impact of Climate Risk on the Energy System by : Amy Myers Jaffe
Download or read book Impact of Climate Risk on the Energy System written by Amy Myers Jaffe and published by Council on Foreign Relations Press. This book was released on 2019-09-13 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Climate change affects virtually every aspect of the U.S. energy system. As climatic effects such as rising seas and extreme weather continue to appear across many geographies, U.S. energy infrastructure is increasingly at risk. The U.S. Gulf Coast--which is home to 44 percent of total U.S. oil refining capacity and several major ports--is highly vulnerable to flooding events and dangerous ocean surges during severe storms and hurricanes. The link between water availability and energy and electricity production creates another layer of risk to U.S. energy security. Climate risk could manifest not only in physical damages, but also in financial market failures. Climate change-related challenges could impede energy firms' access to capital markets or private insurance markets. Already, climate-related risks have created severe financial problems at a handful of U.S. energy firms, forcing them to interrupt their sales of energy to consumers in particular locations. Over time, climatic disruptions to domestic energy supply could entail huge economic losses and potentially require sizable domestic military mobilizations. The United States is ill prepared for this national security challenge, and public debate about emergency preparedness is virtually nonexistent. To explore the challenges of climate risk to the U.S. energy system and national security, the Council on Foreign Relations organized a two-day workshop in New York, on March 18 and 19, 2019. The gathering of fifty participants included current and former state and federal government officials and regulators, entrepreneurs, scientists, investors, financial- and corporate-sector leaders, credit agencies, insurers, nongovernmental organizations, and energy policy experts. During their deliberations, workshop participants explored how climate-related risks to U.S. energy infrastructure, financial markets, and national security could be measured, managed, and mitigated. Impact of Climate Risk on the Energy System summarizes the insights from this workshop and includes contributions from seven expert authors delving into related topics.
Download or read book Smart Power written by Peter Fox-Penner and published by Island Press. This book was released on 2010-04-05 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new national policy on climate change is under debate in the United States and is likely to result in a cap on greenhouse gas emissions for utilities. This and other developments will prompt utilities to undergo the largest changes in their history. Smart Power examines the many facets of this unprecedented transformation. This enlightening book begins with a look back on the deregulatory efforts of the 1990s and their gradual replacement by concerns over climate change, promoting new technologies, and developing stable prices and supplies. In thorough but non-technical terms it explains the revolutionary changes that the Smart Grid is bringing to utility operations. It also examines the options for low-carbon emissions along with the real-world challenges the industry and its regulators must face as the industry retools and finances its new sources and systems. Throughout the book, Peter Fox-Penner provides insights into the policy choices and regulatory reform needed to face these challenges. He not only weighs the costs and benefits of every option, but presents interviews with informed experts, including economists, utility CEOs, and engineers. He gives a brief history of the development of the current utility business model and examines possible new business models that are focused on energy efficiency. Smart Power explains every aspect of the coming energy revolution for utilities in lively prose that will captivate even the most techno-phobic readers.
Book Synopsis Climate Risk and Adaptation in the Electric Power Sector by : Asian Development Bank
Download or read book Climate Risk and Adaptation in the Electric Power Sector written by Asian Development Bank and published by . This book was released on 2012 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Sustainable Electricity II by : Jessica Fox
Download or read book Sustainable Electricity II written by Jessica Fox and published by Springer. This book was released on 2018-10-22 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Realities of power company choices, regulatory boundaries, and stakeholder approvals. Expectations of the responsible investor, environmental advocate, and Silicon Valley companies including Google, Facebook, and Stanford University. Surprising stories show how creativity, innovation, and planning can resolve some of the toughest choices facing electric power companies today, although not in all cases. Building on the first volume, Sustainable Electricity: Case Studies from Electric Power Companies in North America (Fox, 2016. Springer), this book dives headfirst into the economic, environmental, and social tradeoffs power companies face as they strive to be sustainable. With more than 40 contributing experts, chapters include first-hand power company stories, case studies of leading Silicon Valley organizations; socially responsible investor contemplations; environmental advocacy arguments; and regulatory realities. The book provides a window into the choices companies make, the tradeoffs stakeholders accept, and the bottom line that comes with producing sustainable electricity. It will be an important resource that will accelerate collective thoughts on what ‘sustainable electricity’ means and what needs to be considered when the “everyone wins” outcome is elusive. “People have been able to fish, hike, camp and boat on a beautiful AEP property that supports recreational activities for many years. Now AEP has to generate income from this property. Do we build roads and drill to extract the natural gas? Do we sell the timber and keep the property? Do we sell the whole thing? What about the fish, deer and other wildlife? Tradeoffs will be made, and not everyone will like them.” Tim W. Lohner, Ph.D., Environmental Specialist, American Electric Power. (Chapter 3) “Companies are demanding access to clean energy and investors are pressing companies to source 100% renewable. It is essential that utilities develop a comprehensive strategy to reduce climate impact, and clearly articulate the plan and their progress. Customers and investors want to see this progress, and utilities need to develop the right model for their particular business.” John Streur, CEO, Calvert Research & Management (Chapter 4) “At Chevron, we are continually examining the tradeoffs as we work to improve our energy efficiency and reduce our environmental footprint. The complexity of our global, shared challenge to electrify the world without undue compromise to the integrity of our planet is one that will require global action. The experiences and perspectives detailed in this book are important to understand as we collectively work towards a sustainable energy future. The one billion plus are counting on us.” Kirsten S. Thorne, Global Issues and Public Policy Manager, Chevron (Forward)
Book Synopsis Managing Climate Risk in the U.S. Financial System by : Leonardo Martinez-Diaz
Download or read book Managing Climate Risk in the U.S. Financial System written by Leonardo Martinez-Diaz and published by U.S. Commodity Futures Trading Commission . This book was released on 2020-09-09 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742
Book Synopsis Climate Policy Risk in the U.S. Electric Power Sector by : Kyle Danish
Download or read book Climate Policy Risk in the U.S. Electric Power Sector written by Kyle Danish and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Twenty Key Trends written by and published by . This book was released on 1992 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Transformation of the Electric Utility Business Model by : John Manshreck
Download or read book Transformation of the Electric Utility Business Model written by John Manshreck and published by Walter de Gruyter GmbH & Co KG. This book was released on 2021-11-22 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines business model transformation through the study of electrical utilities, an industry at the center of today’s efforts to combat climate change. When change comes to the business model of such a mature industry, the pattern is often recognizable. The foundational elements of the industry shift, allowing the innovation of business models by new competitors, while established firms face the threat of disruption. The utility sector, after decades of relative stability, is in the midst of such a transformation today. After providing a historical summary of the dominant business models of the utility sector, Transformation of the Electric Utility Business Model looks at the factors currently impacting the industry. Utilities and policy makers today are facing two long-term issues that will dominate their agendas in the coming decades: rebuilding utility infrastructure to enable the decarbonization of the economy, and managing the risk of catastrophic events that can leave large areas without power for extended periods. Fortunately, with proper planning, many utility investments in decarbonization will also support risk management. However, these investments are often not compatible with current utility business models, requiring creativity and new regulatory frameworks to successfully implement. This book considers the impact of these factors, and then discusses the future. This well-researched, extremely insightful book is essential reading for all those with an interest in business strategy, energy studies and sustainability.
Book Synopsis Power after Carbon by : Peter Fox-Penner
Download or read book Power after Carbon written by Peter Fox-Penner and published by Harvard University Press. This book was released on 2020-05-19 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the electric power industry faces the challenges of climate change, technological disruption, new market imperatives, and changing policies, a renowned energy expert offers a roadmap to the future of this essential sector. As the damaging and costly impacts of climate change increase, the rapid development of sustainable energy has taken on great urgency. The electricity industry has responded with necessary but wrenching shifts toward renewables, even as it faces unprecedented challenges and disruption brought on by new technologies, new competitors, and policy changes. The result is a collision course between a grid that must provide abundant, secure, flexible, and affordable power, and an industry facing enormous demands for power and rapid, systemic change. The fashionable solution is to think small: smart buildings, small-scale renewables, and locally distributed green energy. But Peter Fox-Penner makes clear that these will not be enough to meet our increasing needs for electricity. He points instead to the indispensability of large power systems, battery storage, and scalable carbon-free power technologies, along with the grids and markets that will integrate them. The electric power industry and its regulators will have to provide all of these, even as they grapple with changing business models for local electric utilities, political instability, and technological change. Power after Carbon makes sense of all the moving parts, providing actionable recommendations for anyone involved with or relying on the electric power system.
Book Synopsis The Dirty Energy Dilemma by : Benjamin K. Sovacool
Download or read book The Dirty Energy Dilemma written by Benjamin K. Sovacool and published by Bloomsbury Publishing USA. This book was released on 2008-10-30 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: The American electric utility system is quietly falling apart. Once taken for granted, the industry has become increasingly unstable, fragmented, unreliable, insecure, inefficient, expensive, and harmful to our environment and public health. According to Sovacool, the fix for this ugly array of problems lies not in nuclear power or clean coal, but in renewable energy systems that produce few harmful byproducts, relieve congestion on the transmission grid, require less maintenance, are not subject to price volatility, and enhance the security of the national energy system from natural catastrophe, terrorist attack, and dependence on supply from hostile and unstable regions of the world. Here arises The Dirty Energy Dilemma: If renewable energy systems deliver such impressive benefits, why are they languishing at the margins of the American energy portfolio? And why does the United States lag so far behind Europe, where conversion to renewable energy systems has already taken off in a big way? Corporate media parrot industry PR that renewable technologies just aren't ready for prime time. But Sovacool marshals extensive field research to show that the only barrier blocking the conversion of a significant proportion of the U.S. energy portfolio to renewables is not technological—the technology is there—but institutional. Public utility commissioners, utility managers, system operators, business owners, and ordinary consumers are hobbled by organizational conservatism, technical incompatibility, legal inertia, weak and inconsistent political incentives, ill-founded prejudices, and apathy. The author argues that significant conversion to technologically proven clean energy systems can happen only if we adopt and implement a whole new set of policies that will target and dismantle the insidious social barriers that are presently blocking decisions that would so obviously benefit society.
Author :National Academies of Sciences, Engineering, and Medicine Publisher :National Academies Press ISBN 13 :0309371422 Total Pages :341 pages Book Rating :4.3/5 (93 download)
Book Synopsis The Power of Change by : National Academies of Sciences, Engineering, and Medicine
Download or read book The Power of Change written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2016-09-30 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity, supplied reliably and affordably, is foundational to the U.S. economy and is utterly indispensable to modern society. However, emissions resulting from many forms of electricity generation create environmental risks that could have significant negative economic, security, and human health consequences. Large-scale installation of cleaner power generation has been generally hampered because greener technologies are more expensive than the technologies that currently produce most of our power. Rather than trade affordability and reliability for low emissions, is there a way to balance all three? The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies considers how to speed up innovations that would dramatically improve the performance and lower the cost of currently available technologies while also developing new advanced cleaner energy technologies. According to this report, there is an opportunity for the United States to continue to lead in the pursuit of increasingly clean, more efficient electricity through innovation in advanced technologies. The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies makes the case that America's advantagesâ€"world-class universities and national laboratories, a vibrant private sector, and innovative states, cities, and regions that are free to experiment with a variety of public policy approachesâ€"position the United States to create and lead a new clean energy revolution. This study focuses on five paths to accelerate the market adoption of increasing clean energy and efficiency technologies: (1) expanding the portfolio of cleaner energy technology options; (2) leveraging the advantages of energy efficiency; (3) facilitating the development of increasing clean technologies, including renewables, nuclear, and cleaner fossil; (4) improving the existing technologies, systems, and infrastructure; and (5) leveling the playing field for cleaner energy technologies. The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies is a call for leadership to transform the United States energy sector in order to both mitigate the risks of greenhouse gas and other pollutants and to spur future economic growth. This study's focus on science, technology, and economic policy makes it a valuable resource to guide support that produces innovation to meet energy challenges now and for the future.
Book Synopsis Effects of Climate Change on Energy Production and Use in the United State by : Thomas J. Wilbanks
Download or read book Effects of Climate Change on Energy Production and Use in the United State written by Thomas J. Wilbanks and published by DIANE Publishing. This book was released on 2009-05 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report by the Nat. Science and Technology Council¿s U.S. Climate Change Science Program (CCSP) is part of a series of Synthesis and Assessment Products produced by the CCSP. This series of 21 reports is aimed at providing current evaluations of climate change science to inform public debate, policy, and operational decisions and is also intended to inform CCSP¿s consideration of future program priorities. CCSP¿s guiding vision is to provide the Nation and the global community with the science-based knowledge to manage the risk and opportunities of change in the climate and related environmental systems. This report will enhance understanding of the effects of climate change on energy systems in the U.S. Illustrations.
Book Synopsis The Private Sector's Capacity to Manage Climate Risks and Finance Carbon Neutral Energy Infrastructure by : Craig A. Hart
Download or read book The Private Sector's Capacity to Manage Climate Risks and Finance Carbon Neutral Energy Infrastructure written by Craig A. Hart and published by . This book was released on 2007 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: (cont.) (i) the capacity of capital markets to supply adequate investment capital to develop a portfolio of carbon neutral electricity infrastructure providing 10-15 TW of power within a 50-year period, (ii) the financial effects of increasingly intense storms on the electric utility industry in the Eastern United States from 1990 to 2005, and (iii) the financial effects of the increasing frequency and intensity of natural catastrophic events on the insurance industry from the 1970's to 2005, especially in connection with underwriting risks for energy infrastructure. The research is supported by a survey of the insurance, derivatives, banking, and energy industries with respect to their use of private contractual risk management methods and an examination of the models used to price these contractual instruments. This dissertation is intended to contribute to economic and policy literature concerning climate change by providing an analysis of how the financial aspects of climate change might influence the capacity and willingness of the private sector to invest in carbon neutral energy infrastructure.
Book Synopsis Resilient Decarbonization for the United States by : Sohum Parag Pawar
Download or read book Resilient Decarbonization for the United States written by Sohum Parag Pawar and published by . This book was released on 2020 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past decade has seen an unprecedented surge of climate change-driven extreme weather events that have wrought over $800 billion in damage and taken more than 5,200 lives across the United States -- a trend that appears poised to intensify. At the same time, the need for a large-scale effort to decarbonize the U.S. electric power system has become clear, along with the growing climate risks and impacts that any such effort will face. This thesis argues that the principles of resilience can play a valuable role by enabling the decarbonization of the U.S. electric system, in the face of the escalating risks and impacts of climate-driven extreme weather. By emphasizing targeted hardening, proactive planning, graceful failure, and effective recoveries in the design, operation, and oversight of electric systems in the United States, we can both protect against growing climate risks and catalyze decarbonization efforts -- an integrated process we call resilient decarbonization. This work seeks to inform present and future resilient decarbonization efforts by examining the lessons of the past decade of extreme weather, and its impact on electric systems in the United States. To do so, we consider three cases: Hurricane Maria, which struck Puerto Rico in 2017, causing the world’s second-largest blackout; the 2017-2019 Northern California wildfire seasons, which sent the nation’s largest investor-owned-utility into bankruptcy and remain the most devastating on record; and Superstorm Sandy, which served as a wakeup call for the New York/New Jersey area when it made a sudden left turn towards the region in 2012. We find that resilient decarbonization, while a challenging process to set into motion, does in fact meet its dual mission of protecting electric systems against growing climate risks, while enabling their decarbonization. We also examine the ways in which electric system institutions take climate risks into account, the strengths and weaknesses of resilience-based measures for electric systems, and overarching questions about the role of electricity and electric utilities in American society today.
Book Synopsis Electricity from Renewable Resources by : National Research Council
Download or read book Electricity from Renewable Resources written by National Research Council and published by National Academies Press. This book was released on 2010-04-05 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: A component in the America's Energy Future study, Electricity from Renewable Resources examines the technical potential for electric power generation with alternative sources such as wind, solar-photovoltaic, geothermal, solar-thermal, hydroelectric, and other renewable sources. The book focuses on those renewable sources that show the most promise for initial commercial deployment within 10 years and will lead to a substantial impact on the U.S. energy system. A quantitative characterization of technologies, this book lays out expectations of costs, performance, and impacts, as well as barriers and research and development needs. In addition to a principal focus on renewable energy technologies for power generation, the book addresses the challenges of incorporating such technologies into the power grid, as well as potential improvements in the national electricity grid that could enable better and more extensive utilization of wind, solar-thermal, solar photovoltaics, and other renewable technologies.
