A vision of true costing

Abstract

In recent years, most new generating plant installed in the UK electricity supply industry has been gas turbine. In the near future, this trend could change as both environmental pressures and international agreements legislate towards a significant increase in the level of exploitation of renewable energy. Options for new generating plant must be assessed and compared using several bases before a choice is made. This paper describes the initial stages of development of techniques to accommodate externalities into the decision-making process. An illustrative example, wind energy, is presented.