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Risk Reduction and Risk Transfer to ...

Cuppari, Rosa Isabella,

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Risk Reduction and Risk Transfer to Manage Hydrometeorological Financial Risk for Hydropower Across Geographic Scales /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Risk Reduction and Risk Transfer to Manage Hydrometeorological Financial Risk for Hydropower Across Geographic Scales // Rosa Isabella Cuppari.
Author:	Cuppari, Rosa Isabella,
Description:	1 electronic resource (134 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 86-11, Section: B.
Contained By:	Dissertations Abstracts International86-11B.
Subject:	Environmental science. -
Online resource:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=31935120
ISBN:	9798315712008

Risk Reduction and Risk Transfer to Manage Hydrometeorological Financial Risk for Hydropower Across Geographic Scales /
Cuppari, Rosa Isabella,

Risk Reduction and Risk Transfer to Manage Hydrometeorological Financial Risk for Hydropower Across Geographic Scales /Rosa Isabella Cuppari. - 1 electronic resource (134 pages)

Source: Dissertations Abstracts International, Volume: 86-11, Section: B.

Hydropower is the primary source of electricity for many countries and the leading source of renewable energy worldwide. However, while hydropower offers predictable hourly electricity generation that complements intermittent energy sources, it is susceptible to droughts, which can severely reduce hydropower supply on a seasonal-to-annual scale. During droughts, hydropower suppliers must grapple with reductions in generation and, correspondingly, revenues. These losses may be compounded by increases in costs if suppliers are forced to turn to more expensive sources of electricity to meet contractual obligations for electricity delivery. Left unmanaged, this financial risk can result in the diversion of public funds to offset losses and/or to credit rating downgrades, which can lead to higher costs of borrowing and increased long-term costs. Existing research has characterized the hydrometeorological financial risk facing hydropower suppliers and explored the potential of various risk management strategies, such as new water storage capacity and index insurance contracts linking weather conditions to payouts. Nonetheless, there remain significant knowledge gaps, several of which are addressed here. These include: (i) an understanding of how the costs of integrated risk management strategies are distributed across stakeholders; (ii) the value of the operational flexibility of transboundary infrastructure in reducing risk, and; (iii) the advantages of pooling risk globally via national-level index insurance contracts. With respect to (i), two utility-level financial risk management strategies are compared to evaluate the costs, and distribution thereof, associated with a government-supported strategy versus an independently managed approach employing a newly developed index insurance instrument. With regard to (ii), a transboundary water resource agreement is evaluated in terms of its ability to manage risk, with attention to how the limited operational flexibility of existing infrastructure impacts its financial value to the parties involved. Finally, in (iii) the potential for a risk pool of hydropower-dependent countries with (mostly) uncorrelated drought risks is explored as a means to reduce the costs of insurance at the global scale. In an era when hydropower's strategic importance in the global energy portfolio continues to grow, these analyses contribute insights useful for managing the hydrometeorological financial risk faced by hydropower-dependent suppliers and countries alike.

English

ISBN: 9798315712008Subjects--Topical Terms:

677245
Environmental science.
Subjects--Index Terms:

Financial risk

Risk Reduction and Risk Transfer to Manage Hydrometeorological Financial Risk for Hydropower Across Geographic Scales /
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300 $a 1 electronic resource (134 pages)
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500 $a Source: Dissertations Abstracts International, Volume: 86-11, Section: B.
500 $a Advisors: Characklis, Gregory W. Committee members: Kern, Jordan D.; Kittner, Noah; Pavelsky, Tamlin M.; Whittington, Dale.
502 $b Ph.D. $c The University of North Carolina at Chapel Hill $d 2025.
520 $a Hydropower is the primary source of electricity for many countries and the leading source of renewable energy worldwide. However, while hydropower offers predictable hourly electricity generation that complements intermittent energy sources, it is susceptible to droughts, which can severely reduce hydropower supply on a seasonal-to-annual scale. During droughts, hydropower suppliers must grapple with reductions in generation and, correspondingly, revenues. These losses may be compounded by increases in costs if suppliers are forced to turn to more expensive sources of electricity to meet contractual obligations for electricity delivery. Left unmanaged, this financial risk can result in the diversion of public funds to offset losses and/or to credit rating downgrades, which can lead to higher costs of borrowing and increased long-term costs. Existing research has characterized the hydrometeorological financial risk facing hydropower suppliers and explored the potential of various risk management strategies, such as new water storage capacity and index insurance contracts linking weather conditions to payouts. Nonetheless, there remain significant knowledge gaps, several of which are addressed here. These include: (i) an understanding of how the costs of integrated risk management strategies are distributed across stakeholders; (ii) the value of the operational flexibility of transboundary infrastructure in reducing risk, and; (iii) the advantages of pooling risk globally via national-level index insurance contracts. With respect to (i), two utility-level financial risk management strategies are compared to evaluate the costs, and distribution thereof, associated with a government-supported strategy versus an independently managed approach employing a newly developed index insurance instrument. With regard to (ii), a transboundary water resource agreement is evaluated in terms of its ability to manage risk, with attention to how the limited operational flexibility of existing infrastructure impacts its financial value to the parties involved. Finally, in (iii) the potential for a risk pool of hydropower-dependent countries with (mostly) uncorrelated drought risks is explored as a means to reduce the costs of insurance at the global scale. In an era when hydropower's strategic importance in the global energy portfolio continues to grow, these analyses contribute insights useful for managing the hydrometeorological financial risk faced by hydropower-dependent suppliers and countries alike.
546 $a English
590 $a School code: 0153
650 4 $a Environmental science. $3 677245
650 4 $a Sustainability. $3 1029978
650 4 $a Hydrologic sciences. $3 3168407
650 4 $a Alternative energy. $3 3436775
653 $a Financial risk
653 $a Hydrometeorological risk
653 $a Hydropower
653 $a Index insurance
653 $a Renewable energy
653 $a Risk pooling
690 $a 0768
690 $a 0474
690 $a 0640
690 $a 0388
690 $a 0363
710 2 $a The University of North Carolina at Chapel Hill. $b Environmental Sciences and Engineering. $e degree granting institution. $3 3823040
720 1 $a Characklis, Gregory W. $e degree supervisor.
773 0 $t Dissertations Abstracts International $g 86-11B.
790 $a 0153
791 $a Ph.D.
792 $a 2025
856 4 0 $u https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=31935120