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May 1, 2018 · Blackout economics. A power cut is one of the worst nightmares come true for electricity consumers, industries and economies. It brings life to a grinding halt and impacts productivity, across the board.
- Mapping Business Dependency on Infrastructures
- Determine Infrastructure System Exposure and Vulnerability to Natural Hazards
- Create Set of Failure Combinations
- Estimate Macroeconomic Impacts
Generally, infrastructures with fixed spatial service coverages are called utility services such as electricity, gas, water, and digital communications. Governed by the direction of flow of resources, the assets of utility services have been classified by Pant et al. (2017) and Thacker et al. (2017c) as: (1) sources—which generate resources; (2) in...
The next step is to estimate the exposure of infrastructures and economic activities to the natural hazard. Although we have a hazard map derived as a continuous field, it can be denoted as a set of discrete hazard elements \(H = \left\{ {h_{1} , \ldots h_{m} } \right\}\) over space. Here \(h_{k}\) denotes the hazard over an area \(a\left( {h_{k} }...
The sets \(\bar{S}\left( I \right)\) and \(\bar{S}\left( B \right)\) show the economic activities disrupted by the natural hazard and through systemic disruptions. We are interested in comparing these two types of impacts with each other, and further, to look at multiple failure combinations of several infrastructure assets failing at the same time...
The next step is to integrate the outcomes of the vulnerability assessment and the set of failure combinations to provide an input for the macroeconomic model. As shown in the fourth panel of Fig. 2, for each set of failure combinations (both for \(F\left( I \right)\) and \(F\left( B \right)\)), the economic disruption (\(\delta\)) is estimated for...
- Elco Koks, Elco Koks, Raghav Pant, Scott Thacker, Scott Thacker, Jim W. Hall
- 2019
Jan 1, 2009 · The global economic crisis is akin to a power blackout. In both cases, a disturbance in one part of a complex “tightly coupled” system results in a cascade of failures through an entire network.
Jan 7, 2023 · Some examples include: The COVID-19 pandemic: The outbreak of COVID-19 and the measures taken to contain it have caused significant economic uncertainty around the world. The pandemic has disrupted supply chains, caused widespread job losses, and led to a sharp contraction in economic activity.
Nov 15, 2023 · In 2021 alone, there were three notable events that raised concerns regarding the safety and resilience of large power systems: the catastrophic Texas blackout 5, 6, 7 and the separations of the European synchronous area in January 8 and in July. 9 These events had a pronounced economic impact and disrupted the lives of millions of people ...
Jun 3, 2022 · First, we conceptualize blackout as a special case of SC risks which is distinctively characterized by a simultaneous shutdown of SC processes, disruption propagations (i.e., the ripple effect), and danger of viability losses for entire ecosystems.
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Sep 22, 2006 · blackouts in the world, classifies their features in each phase and summarizes their mechanisms. Key-Words: - Blackout, power system control, power system stability, WAMS, FACTS. 1 Introduction...
