Economics of Hydroelectric Power

'This book provides and accessible introduction to the economics of hydroelectric power supply and the role of environmentally motivated restrictions on water releases on hydro plant operations. It is important background reading for anyone interested in a better understanding of hydroelectric power operations. The modeling tools presented here offer a useful starting point for anyone wishing to model hydro facility operation and to study the effects of various environmental constraints on the costs of power supply.'- Karen Palmer, The Journal of Energy and Development'This simplified applications-oriented introduction to the sometimes complex problem of scheduling integrated hydroelectric facilities provides a well-written entry-point for a rich field.'- William W. Hogan, Harvard University, US Despite the extensive body of literature on energy economics, very little economics research has been conducted that focuses specifically on dams and hydroelectric power. Brian Edwards addresses this deficiency by examining the multiple roles that dams play, as well as the role of hydroelectric power within the context of the energy industry. Brian Edwards provides an in-depth analysis of how dams are used in water management, flood control and irrigation, as well as the environmental impacts of their construction and operation. He examines the types of restrictions imposed on operators to mitigate impacts, and the resulting tradeoffs between achieving hydroelectric generation and environmental management objectives. Also covered is the role of hydroelectric power in both a regulatory framework and within the context of the energy industry deregulation that has occurred in the US and other countries. A simple dynamic model of a hydroelectric generating facility forms the basis for other models discussed. Case studies of dams operated by the United States Department of Energy are also included.Environmental economists, researchers, policymakers, practitioners, and those interested in natural resources and the energy industry will find this a unique and valuable study.