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Novel Approach of Quantifying Energy Security in terms of Economic, Environmental and Supply Risk Factors

The rising global demand of energy and political instability has raised the issue of energy security more than ever before. Depleting reservoirs and environmental degradation encourage policy makers to review intended action plans for sustainable energy generation. Fluctuating oil prices and unfores...

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Main Authors: Tufail, Muhamad Mutasim Billah, Ibrahim, Jafni Azhan, Melan, Mustakim, Mohd Nawi, Mohd Nasrun
Format: Article
Language:English
Published: Akademia Baru Publishing (M) Sdn Bhd 2019
Subjects:
HD61 Risk Management
Online Access:https://repo.uum.edu.my/id/eprint/31830/1/JARFMTS%2057%2001%202019%20100-109.pdf
https://repo.uum.edu.my/id/eprint/31830/
httpS://semarakilmu.com.m
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spelling my.uum.repo.318302025-01-08T11:12:44Z https://repo.uum.edu.my/id/eprint/31830/ Novel Approach of Quantifying Energy Security in terms of Economic, Environmental and Supply Risk Factors Tufail, Muhamad Mutasim Billah Ibrahim, Jafni Azhan Melan, Mustakim Mohd Nawi, Mohd Nasrun HD61 Risk Management The rising global demand of energy and political instability has raised the issue of energy security more than ever before. Depleting reservoirs and environmental degradation encourage policy makers to review intended action plans for sustainable energy generation. Fluctuating oil prices and unforeseen political events has emerged a need of secure energy supplies policies. This study will incorporate three key integrated energy dimensions in terms of cost to evaluate the total exposure. Affordability, acceptability and availability of adequate supply are the factors to evaluate for sustainable economic growth, potential environmental harm and social stability. Energy experts and policy makers around the globe are looking for the effective tool to measure the impact of supply disruption on energy generation process. High level of security incurred extra cost; however, opportunity loss due to energy supply disruption has never been evaluated in terms of monitory unit. This study will focus on the evaluation of potential loss due to unavailability of supplies for power generation system. Holistic approach will be applied to measure the combine impact of fuels specifically used in power generation process. Besides the traditional approach of unit power generation cost this paper encompasses other cost parameters which indirectly affects the cost of generation in the form of carbon-tax penalty and the excessive cost of secure and reliable supply of energy resources to power generation system Akademia Baru Publishing (M) Sdn Bhd 2019 Article PeerReviewed application/pdf en cc4_by_nc https://repo.uum.edu.my/id/eprint/31830/1/JARFMTS%2057%2001%202019%20100-109.pdf Tufail, Muhamad Mutasim Billah and Ibrahim, Jafni Azhan and Melan, Mustakim and Mohd Nawi, Mohd Nasrun (2019) Novel Approach of Quantifying Energy Security in terms of Economic, Environmental and Supply Risk Factors. Journal of Advanced Research in Fluid Mechanics and Thermal Sciences, 57 (01). pp. 100-109. ISSN 2289-7879 httpS://semarakilmu.com.m
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutional Repository
url_provider http://repo.uum.edu.my/
language English
topic HD61 Risk Management
spellingShingle HD61 Risk Management
Tufail, Muhamad Mutasim Billah
Ibrahim, Jafni Azhan
Melan, Mustakim
Mohd Nawi, Mohd Nasrun
Novel Approach of Quantifying Energy Security in terms of Economic, Environmental and Supply Risk Factors
description The rising global demand of energy and political instability has raised the issue of energy security more than ever before. Depleting reservoirs and environmental degradation encourage policy makers to review intended action plans for sustainable energy generation. Fluctuating oil prices and unforeseen political events has emerged a need of secure energy supplies policies. This study will incorporate three key integrated energy dimensions in terms of cost to evaluate the total exposure. Affordability, acceptability and availability of adequate supply are the factors to evaluate for sustainable economic growth, potential environmental harm and social stability. Energy experts and policy makers around the globe are looking for the effective tool to measure the impact of supply disruption on energy generation process. High level of security incurred extra cost; however, opportunity loss due to energy supply disruption has never been evaluated in terms of monitory unit. This study will focus on the evaluation of potential loss due to unavailability of supplies for power generation system. Holistic approach will be applied to measure the combine impact of fuels specifically used in power generation process. Besides the traditional approach of unit power generation cost this paper encompasses other cost parameters which indirectly affects the cost of generation in the form of carbon-tax penalty and the excessive cost of secure and reliable supply of energy resources to power generation system
format Article
author Tufail, Muhamad Mutasim Billah
Ibrahim, Jafni Azhan
Melan, Mustakim
Mohd Nawi, Mohd Nasrun
author_facet Tufail, Muhamad Mutasim Billah
Ibrahim, Jafni Azhan
Melan, Mustakim
Mohd Nawi, Mohd Nasrun
author_sort Tufail, Muhamad Mutasim Billah
title Novel Approach of Quantifying Energy Security in terms of Economic, Environmental and Supply Risk Factors
title_short Novel Approach of Quantifying Energy Security in terms of Economic, Environmental and Supply Risk Factors
title_full Novel Approach of Quantifying Energy Security in terms of Economic, Environmental and Supply Risk Factors
title_fullStr Novel Approach of Quantifying Energy Security in terms of Economic, Environmental and Supply Risk Factors
title_full_unstemmed Novel Approach of Quantifying Energy Security in terms of Economic, Environmental and Supply Risk Factors
title_sort novel approach of quantifying energy security in terms of economic, environmental and supply risk factors
publisher Akademia Baru Publishing (M) Sdn Bhd
publishDate 2019
url https://repo.uum.edu.my/id/eprint/31830/1/JARFMTS%2057%2001%202019%20100-109.pdf
https://repo.uum.edu.my/id/eprint/31830/
httpS://semarakilmu.com.m
_version_ 1821005507715923968
score 13.226497

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