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Property risk assessment for power plants: Methodology, validation and application

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  • Orme, George J.
  • Venturini, Mauro

Abstract

In this paper, a procedure for Risk Assessment, which makes use of two risk indices (PML – Probable Maximum Loss and MFL – Maximum Foreseeable Loss) is applied to power plants to evaluate potential economic losses due to risk exposure for two different loss scenarios (probable and worst-case).

Suggested Citation

  • Orme, George J. & Venturini, Mauro, 2011. "Property risk assessment for power plants: Methodology, validation and application," Energy, Elsevier, vol. 36(5), pages 3189-3203.
    • Handle: RePEc:eee:energy:v:36:y:2011:i:5:p:3189-3203
    DOI: 10.1016/j.energy.2011.03.008
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    References listed on IDEAS

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    1. Burgherr, Peter & Hirschberg, Stefan, 2008. "Severe accident risks in fossil energy chains: A comparative analysis," Energy, Elsevier, vol. 33(4), pages 538-553.
    2. Ogaji, Stephen & Sampath, Suresh & Singh, Riti & Probert, Douglas, 2002. "Novel approach for improving power-plant availability using advanced engine diagnostics," Applied Energy, Elsevier, vol. 72(1), pages 389-407, May.
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    Cited by:

    1. Rusin, Andrzej & Wojaczek, Adam, 2019. "Improving the availability and lengthening the life of power unit elements through the use of risk-based maintenance planning," Energy, Elsevier, vol. 180(C), pages 28-35.
    2. Martyna Tomala & Andrzej Rusin & Adam Wojaczek, 2020. "Risk-Based Planning of Diagnostic Testing of Turbines Operating with Increased Flexibility," Energies, MDPI, vol. 13(13), pages 1-16, July.
    3. Huiyue Diao & Majid Ghorbani, 2018. "Production risk caused by human factors: a multiple case study of thermal power plants," Frontiers of Business Research in China, Springer, vol. 12(1), pages 1-27, December.

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