Utility Sector
Earthquake risk transfer in the utility sector
Earthquakes can have a significant impact on the financial benefits of utility sector companies. Some of the ways in which earthquakes can affect the financial benefits of utility companies include:
Short-term Earthquake Preparedness Action Plan in the Utility Sector
Short-term earthquake forecasting data can have a significant impact on the development and implementation of an earthquake forecasting action plan in the utility sector. Some ways this data can be used to improve the response to an impending earthquake include:
The utility sector requires considering 6 steps that in a short-term earthquake forecasting action plan
An action plan for short-term earthquake forecasting for the utility sector could include the following components:
How M6.4 Dec 20 2022 Earthquake Affected the Utility Sector
Earling Severe Ground Condition models detected unusual patterns and marked mid-December 2022 as a risky time window a few days before the M6.4 earthquake hit the region on Dec 20, 2022. Based on our data and dashboards, more than 1,350 power plants, which were producing 58 Gigawatts of electricity, affected in 98 companies by 20 PGV to 1 PGV cm/s in 186 miles separated from the epicenter of the earthquake.