January 7, 2025
Journal Article
A Valuation Framework for Customers Impacted by Extreme Temperature-Related Outages
Abstract
Extreme temperature events can lead to increased mortality rates and various economic impacts due to disruptions in essential services, damage to infrastructure, and decreased productivity. However, the existing resilience assessment lacks specificity for extreme temperature conditions, overlooks mortality, and does not incorporate a grid or at-scale simulation environment. This paper introduces a comprehensive framework to estimate not only the direct economic losses incurred by customers but also the potential impacts associated with the damages including mortality based on the grid simulation environment. By integrating economic and human health-related factors, this study provides a comprehensive approach to quantify the customer-oriented economic impact during extreme temperature-related outages. The proposed methodology is demonstrated through a case study, highlighting the frameworkâs applicability and its potential to inform resilience planning decisions.Published: January 7, 2025