A Novel Hybrid Approach to Estimate Customer Interruption Costs for Industry Sectors
- 1 Aalto University, Espoo, Finland
- 2 Aalto University, Espoo, Finland
Abstract
The power system infrastructure, operations and market have gone through radical changes for the last couple of dec ades. The society has become more dependent to the continuous electric power supply and hence the concept of electric power reliability has become more significant. At this point, understanding the economic outcomes of power outages is vital and imperative for both utilities and the customers. There are certain methodologies to understand the costs of power interruptions. This paper suggests a novel hybrid method that comprises of customer surveys and direct analyti cal methods to reach customer specific, objective and reliable results for the industry sector customers. The paper also brings a statistical approach to censor the zero and extreme responses given via the surveys.
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