Author_Institution :
Dept. of Corp. Finance & Value Based Manage., Wroclaw Univ. of Econ., Wrocław, Poland
Abstract :
The paper estimates the cost of power interruptions for the Polish sector of enterprises. In the research, an average WTP, and also the average VoLL from the sample, were estimated, and the analyses of an average WTP, and also those of the average VoLL, were conducted in the groups of enterprises categorized in accordance with the size of a given enterprise, and also with a sector which is represented by it. As well as that, the tests of the significance of differences in the expected values of WTP, and also of VoLL, in groups were conducted. Those analyses were being conducted on the sample, having excluded protest respondents. Upon the basis of the conducted analyses, conclusions were formulated. Test of the validity of the CVM approach, and VoLL derived by this study, is by comparison with other studies using a different method of analysis (convergent validity test).
Keywords :
power system faults; power system reliability; power system security; CVM approach; Polish sector; average VoLL; average WTP; continent valuation method; convergent validity test; cost estimation; excluded protest respondents; power interruptions; supply security; value of lost load; willingness to pay; Cost accounting; Estimation; Power supplies; Reliability; Security; Sociology; Statistics; Continent Valuation Method (CVM); Value of Lost Load (VoLL); energy security; willingness to pay (WTP);
