Economic Aspects of Space Weather on the Power Grid

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# Economic Aspects of Space Weather on the Power Grid - PowerPoint PPT Presentation

Economic Aspects of Space Weather on the Power Grid. Space Weather Workshop 2008 Ben Damsky. Method:. Assume a model utility is hit 5,000 MW of generation 3,000 employees 3,000,000 population served 1,000,000 in a metropolitan area. Method:. Consider costs from 2 viewpoints:

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### Economic Aspects ofSpace Weather on thePower Grid

Space Weather Workshop 2008

Ben Damsky

Method:

Assume a model utility is hit

5,000 MW of generation

3,000 employees

3,000,000 population served

1,000,000 in a metropolitan area

Method:

Consider costs from 2 viewpoints:

The utility

The whole society

Method:

• Consider costs for 3 different
• storm magnitudes:
• 200A (Moderate)
• 400A (Large)
• 800A (Very Large)

What does it cost

a utility to respond

Cost to utility of GIC Response

Stop trans maintenance work:

- 50 men @ \$50 per hour

- 8 hours of stoppage

Total: \$20K per day

Cost to utility of GIC Response

Use non-economic dispatch:

- 20% of 5,000 MW

Total: \$100K per 10 hr

What does it cost

a utility when a

solar storm hits?

Moderate Storm (200 A)

Cost to utility

Loss of life to 5 xfrms:

- Each \$100K

Total: \$500K

Moderate Storm (200 A)

Cost to utility

Large Storm (400 A)

Cost to utility

Loss of a GSU:

- Profit \$50M

- Depreciation \$25M

- Idle workers \$4M

- Transformer \$1M

Total: \$80M

Very Large Storm (800 A)

Cost to utility

City without power:

- Sales less fuel \$794M

- Idle workers \$60M

- Transformers \$20M

Total: \$874M

What does it cost

society when a very

large solar storm hits?

“GNP” for a City

US GNP \$44,000 annual per capita

- \$170 per working day

- Assume 80% lost: \$136

- City of 1M people

Total: \$136M/day, \$680M/week

Very Large Storm (800 A)

Cost to society

City without power:

- Reduced GNP \$8.8B

Wide area outage:

- Reduced GNP \$13.6B

Total: \$22.4B