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Determining the optimal investment plan for water utilities: The case of Veolia Water Central

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dc.contributor.author Reid S.
dc.contributor.author Chalak A.
dc.contributor.author Hecht J.
dc.contributor.editor
dc.date 2010
dc.date.accessioned 2017-10-18T13:13:47Z
dc.date.available 2017-10-18T13:13:47Z
dc.date.issued 2010
dc.identifier 10.2166/ws.2010.098
dc.identifier.issn 16069749
dc.identifier.uri http://hdl.handle.net/10938/20187
dc.description.abstract Water utilities face difficult choices in how most efficiently to plan for investments that best meet the needs of their customer base. An obvious interest of water utilities is thus to optimise their investment planning to obtain the maximum possible benefits for the costs accrued by the investments. The objective of this article is to demonstrate an approach for a water utility to determine the benefits of investments in different possible service areas. We used a stated preference choice experiment approach to estimate the willingness-to-pay of customers of a utility company in Southeast England for various water services that are both private and public in nature. Using state-of-the-art econometric methods, we demonstrate how customer preferences can be estimated at the individual level, as opposed to more standard modelling approaches that assume that tastes are homogeneous among the customer population. Willingness-to-pay results were mostly statistically significant for the various private and public services presented to customers, and results conformed to the expectations of economic theory. We demonstrate how individual-level customer preferences can be used to forecast the preferred alternatives of customers when faced with different possible investment programmes. Lastly, we outline how various benefits and costs, including those captured by willingness-to-pay, are used to optimise the water utility's investment planning. © IWA Publishing 2010.
dc.format.extent
dc.format.extent Pages: (367-375)
dc.language English
dc.relation.ispartof Publication Name: Water Science and Technology: Water Supply; Publication Year: 2010; Volume: 10; no. 3; Pages: (367-375);
dc.source Scopus
dc.title Determining the optimal investment plan for water utilities: The case of Veolia Water Central
dc.type Article
dc.contributor.affiliation Reid, S., ICS Consulting, Little Smeaton, United Kingdom
dc.contributor.affiliation Chalak, A., Department of Agricultural Sciences, Faculty of Agricultural and Food Sciences, American University of Beirut, Beirut, Lebanon
dc.contributor.affiliation Hecht, J., ICF International, Fairfax, VA, United States
dc.contributor.authorAddress Reid, S.; ICS Consulting, Little Smeaton, United Kingdom; email: scott@icsconsulting.co.uk
dc.contributor.authorCorporate University: American University of Beirut; Faculty: Faculty of Agricultural and Food Sciences; Department: Agricultural Sciences;
dc.contributor.authorDepartment Agricultural Sciences
dc.contributor.authorDivision
dc.contributor.authorEmail
dc.contributor.authorFaculty Faculty of Agricultural and Food Sciences
dc.contributor.authorInitials
dc.contributor.authorOrcidID
dc.contributor.authorReprintAddress
dc.contributor.authorResearcherID
dc.contributor.authorUniversity American University of Beirut
dc.description.cited
dc.description.citedCount 1
dc.description.citedTotWOSCount
dc.description.citedWOSCount
dc.format.extentCount 9
dc.identifier.articleNo
dc.identifier.coden WSTWB
dc.identifier.scopusID 79951732315
dc.relation.ispartOfIssue 3
dc.relation.ispartofPubTitle Water Science and Technology: Water Supply
dc.relation.ispartofPubTitleAbbr Water Sci. Technol. Water Supply
dc.relation.ispartOfVolume 10
dc.type.publication Journal
dc.subject.otherAuthKeyword Choice experiments
dc.subject.otherAuthKeyword investment optimisation
dc.subject.otherAuthKeyword market simulations
dc.subject.otherAuthKeyword stated preference
dc.subject.otherAuthKeyword water services
dc.subject.otherAuthKeyword willingness-to-pay
dc.subject.otherIndex Choice experiments
dc.subject.otherIndex market simulation
dc.subject.otherIndex stated preferences
dc.subject.otherIndex water services
dc.subject.otherIndex willingness to pay
dc.subject.otherIndex customer satisfaction
dc.subject.otherIndex economics
dc.subject.otherIndex electric utilities
dc.subject.otherIndex experiments
dc.subject.otherIndex optimization
dc.subject.otherIndex sales
dc.subject.otherIndex water supply
dc.subject.otherIndex investments
dc.subject.otherIndex cost-benefit analysis
dc.subject.otherIndex economic theory
dc.subject.otherIndex optimization
dc.subject.otherIndex private sector
dc.subject.otherIndex public service
dc.subject.otherIndex water economics
dc.subject.otherIndex water use
dc.subject.otherIndex willingness to pay
dc.subject.otherIndex article
dc.subject.otherIndex economic aspect
dc.subject.otherIndex investment
dc.subject.otherIndex simulation
dc.subject.otherIndex water management
dc.subject.otherIndex england
dc.subject.otherIndex united kingdom
dc.identifier.doi http://dx.doi.org/10.2166/ws.2010.098


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