The electric power system is subject to a variety of risks stemming from both exposure to climate-related hazards and increasing reliance on weather-dependent generation resources. Proper risk management relies increasingly on an understanding of the climate-related drivers of risk and its constituent components — hazard, exposure, and vulnerability — and by extension, society’s responses to climate change.
EPRI’s Climate 101 training series has been designed to facilitate conversations between climate data specialists and the engineers, planners, and operators who address risk and resilience for their respective systems or companies. Part I of the training series, Physical Climate Data 101, consists of Modules 1, 2 and 3, focused on climate data, models, scenarios, and extremes. This training covers Part II, Climate Hazard, Exposure, and Vulnerability Assessment 101, which consists of Modules 4, 5, and 6. Part II focuses directly on the risk aspects of climate with an overall goal of educating companies on the components of risk, general methods for assessing them, and the impacts of climate change on risk. This READi Insight aims to provide a high-level summary of the main takeaways of the training.