pollutant valuation cost containment calculation of damaged assets eddie leung secured environment
TRANSCRIPT
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Pollutant ValuationCost Containment Calculation of
Damaged Assets
Eddie LeungSecured Environment
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Successful & Sustainable Adoption of New Technology
Law/Government Must Have Enforcement of IP Rights
Must Have Social Support
Science/Technology
Must Be Viable
Business/Financial
Must Be Cost-Effective
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Why Is It …
• That so many disasters end up costing so much more than initially anticipated??
• That salvage values end up being so much less than initially anticipated??
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Answer
Most disasters end up being significantly more costly than initially anticipated, in part, because ex ante (before the fact) analyses fail to include all costs that end up being counted ex post (after the fact).
That is, most analyses fail to include all short term AND long term, private AND social costs.
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Every Action Involving PollutantsEntails Trade-Offs
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Private vs. Social Costs of Responding to Pollutant
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Value of Damaged Inventory
Salvage Value (e.g., after earthquake damage)
=V(Recovered Goods)
– C(Recovery)
Where C(Recovery) include all(i) short-term and long-term, (ii) private and social costs associated with recovery
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Value of Polluted Inventory
Value of Damaged or Polluted Goods =V(Recovered Goods)
– C(Recovery)
– C(Decontamination)Where C(*) include all(i) short-term and long-term, (ii) private and social costs associated with, respectively, recovery and decontamination (e.g., cleanup, process, disposal, liability, compliance, compensation, etc.)
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Specific Example: Total Costs of Emergency Coolant
Private and Social Short-Term and Long-Term Total Costs associated with Coolant= Cost of Coolant+ Cost of Delivery+ Cost of Fire Fighting Operation+ Cost of Radioactive Air Emission Abatement+ Cost of Radioactive Soil Pollutant Decontamination+ Cost of Radioactive Water Effluent Processing+ Cost of Facility Clean Up+ Cost of Facility Decommissioning+ Cost of Long Term Monitoring+ Cost of Compensation+ Cost of Business Interruption+ …
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Explosion Fire
Loss of Control
Loss of Coolant
ReplaceCoolant
Loss of Power
Back upPower
Recovery
Remediation
Evacuation
Compensation
Relocation
Temporary Storage
Logistics
Processing
Release
Temporary Storage
Logistics
Processing
Disposal
Disposal
Water
Soil
$/TBq Atmosphere
Air
$/km² Contaminated
$/km³ Contaminated
$/m³ coolant
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Pathway Spent Fuel Coolant1. Primary pollutant (radioactivity) contained inside spent fuel pool, no release
2. A loss circulation or coolant will lead to release of radioactivity
3. Added make-up coolant (cost of coolant)will become contaminated with primary pollutant
4. All coolant outside of containment is a releaseand will required treatment
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Total Costs of Nuclear Power Generation: Planned vs. Un-Planned Emergencies