Management of Weather and Climate Risk in the Energy Industry

Citation

(2010), "Management of Weather and Climate Risk in the Energy Industry", Management of Environmental Quality, Vol. 21 No. 5. https://doi.org/10.1108/meq.2010.08321eae.005

Management of Weather and Climate Risk in the Energy Industry

Management of Weather and Climate Risk in the Energy Industry

Article Type: Books and resources From: Management of Environmental Quality: An International Journal, Volume 21, Issue 5

Edited by Alberto Troccoli,Springer,Berlin,March 2010,ISBN 978-90-481-3691-9,330 pp.,€96.25

Weather and climate information provide important elements in policy/decision making within the energy sector. Weather forecasts are employed routinely in the energy sector – by energy producers through to suppliers, and by financial analysts through to national regulators – to assist in decision-making. This information is used for diverse purposes such as the pricing of energy or the valuation of financial instruments. Climate information, including from seasonal to inter-annual predictions as well as climate change scenarios, is starting to be included in these decision processes. In addition, weather and climate information is naturally key in the development and use of renewable energy resources such as wind, solar and hydropower.

Following an introductory section covering the production of weather and climate information (forecasts, re-analyses, and so on), and a second one dealing with policies for transferring information between the weather and climate sector and the energy industry, the book delves into multi-faceted applications within the energy industry, from the oil/gas sector to the renewable energy through to demand forecasting, thus providing an encompassing state-of-the-art picture of the interactions between weather, climate and energy.