Valuing Water - Phase 1
The UK's water industry uses sophisticated approaches to evaluate individual investments in water supply and waste management. However, the value of water in its many uses, including water in the environment, is not estimated directly. Recognising this value more explicitly will allow water to be allocated to those uses that generate the greatest social benefit. The purpose of this report is to define the value of water and examine the practical ways in which it can be utilised.
The valuation methods considered in the report are those that identify and quantify the demands for different uses (including water in the environment). Quantifying the demands for different uses of water allows estimation of the economic benefits generated when water is allocated to a particular use, thereby identifying those sectors that generate the most value from water. The report then describes a framework for operationalising the 'value of water' which uses 'hydro-economic' modelling which combines hydrological, engineering infrastructure, institutional and economic factors to reveal how the value of water changes over space and time.
This report recommends sectoral valuation and hydro-economic analysis to enable estimating the value of water over space and time in real water resource systems such as catchments. This is the subject of a Phase 2 study.
|UKWIR Reference :- 13/RG/07/27||Published Date :- 15/07/2013|
|Retail Price (£) :- 250||ISBN :- 1 84057 668 5|