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Investigating the value of keeping options open for water infrastructure in the Lower Hunter, New South Wales
journal contribution
posted on 2023-05-21, 11:50 authored by Steven RustSteven Rust, Silberberg, B, Turner, E, Sharp, BPolicy discussions around the world have increasingly focused on the need for resilient water and wastewater systems. The use of small-scale, 'incremental', measures that maintain substitutability in investment choices can improve a system's adaptability. Using past shifts/shocks, we estimate an option value for unforeseen events that can change the yield-demand balance for potable supply. For a hypothetical dam, we find avoided costs ranging from $11.1 m to $78.1 m for amounts of extra time ranging from one to ten years; and for a permanent desalination plant, the avoided costs ranged from $33.6 m up to $234.7 m for the same amounts of extra time.
History
Publication title
Utilities PolicyVolume
62Article number
100980Number
100980Pagination
1-11ISSN
0957-1787Department/School
Institute for Marine and Antarctic StudiesPublisher
Elsevier LtdPlace of publication
United KingdomRights statement
© 2019 Elsevier Ltd.Repository Status
- Restricted